Soybeans are trading with sharp losses out of the weekend, down 11 to 32 cents. Futures rounded out the Friday session with contracts down 2 to 6 ¼ cents across the board, as May still held up for a 24 ½ cent gain. The cmdtyView national average Cash Bean price was down 2 cents at $11.50 1/4. Soymeal futures were down $1.60 to $2.50 higher on the day, as May was up $5.50 on the week. Soy Oil futures were mostly within 8 points of unchanged, as May was 86 points higher since last Friday. Crude oil is down $1.76 this morning.
US Treasury Secretary Bessent and Chinese counterparts met this weekend in Paris to prep for the meeting between President Trump and President Xi later this month. Following the meeting it was noted that China was open to buying more US ag goods. Late on Sunday President Trump stated there could be a delay in the meeting with China, while also expecting to see China help unblock the Strait of Hormuz, with some thinking that the two are tied to one another.
Weekly CFTC data via the Commitment of Traders report indicated another 23,205 contracts added to the managed money net long in soybean futures and options. That took the net position to 222,107 contracts. Specs in bean oil added another 33,329 contracts to their net long at 108,838 contracts.
USDA Export Sales data has soybean export commitments at 36.49 MMT by 3/5, a 19% drop from the same period last year. That is now 85% of USDA’s estimate for 2025/26 and behind the 93% average sales pace. Shipments are 27.15 MMT, and now 63% of that USDA number and behind the 79% average pace.
NOPA data will be out this morning, with traders looking for the February crush total at 202.73 mbu. Soybean oil stocks are seen at 1.928 billion lbs.
Brazil’s soybean harvest was tallied at 61% complete by Thursday according to AgRural, behind the 70% pace from last year.
May 26 Soybeans closed at $12.25 1/4, down 2 cents, currently down 32 cents
Nearby Cash was $11.50 1/4, down 2 cents,
Jul 26 Soybeans closed at $12.37 1/2, down 2 1/2 cents, currently down 28 3/4 cents
Aug 26 Soybeans closed at $12.18 1/4, down 3 cents, currently down 22 1/2 cents
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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