Soybeans Slip Lower into Month End

Soybeans saw fractional losses in some deferreds, with nearbys down 7 ¾ cents on Friday. July was down 9 ¾ cents this week. The cmdtyView national average Cash Bean price was down 9 1/4 cents at $11.25 3/4. Soymeal futures were down $2.20 to $4.30, with July down $2.10 on the week. Soy Oil futures 49 to 102 points higher and July up 374 points this week. Crude Oil was a pressure factor, down $1.14/bbl, money was flowing out ahead of the weekend, with the President looking over the proposed agreement between the US and Iran.

USDA reported a private export sale of 192,000 MT of soybeans to unknown destinations this morning, with 60,000 MMT for old crop and 132,000 MT for new crop.

Export Sales data was released this morning, with a total of 299,899 MT of old crop bean sales during the week of May 21. That was down from the week prior but still the more than double the same week last year. Mexico was the lead buyer of 86,800 MT, with 64,000 MT sold to unknown destinations. New crop business was 137,708 MT, which was back down from last week but still the second largest for the MY. The top buyer was Mexico at 60,400 MT, with 27,000 MT sold to Taiwan. 

Soybean meal sales were tallied at 303,974 MT for 2025/26 and 137,242 MT for 2026/27, in the middle of the 250,000 to 800,000 MT estimates. Bean oil sales were seen at 3,374 MT, between expectations of net reductions of 5,000 to net sales of 16,000 MT.

Commitment of Traders data showed spec funds cutting 18,252 contracts from their soybean net long position in the week ending on May 26. Their net long was 189,552 contracts of futures and options as of Tuesday. 

Soybean crush data from April will be released on Monday, with traders looking for 214.7 mbu of soybeans used during the months. Soybean oil stocks are seen at 2.365 billion lbs. 

Jul 26 Soybeans  closed at $11.86 3/4, down 7 3/4 cents,

Nearby Cash  was $11.25 3/4, down 9 1/4 cents,

Aug 26 Soybeans  closed at $11.90 1/4, down 5 3/4 cents,

Nov 26 Soybeans  closed at $11.90, down 4 cents,

New Crop Cash  was $11.26 3/4, down 4 1/2 cents,