Soybeans are trading lower on Friday, with most contracts experiencing losses of 7 to 10 cents. The cmdtyView national average cash bean price has decreased by 9.5 cents to $10.60. Soymeal futures are down between $3.50 and $4.60, while soy oil futures dropped by 230 to 253 points. Crude oil is also facing pressure with losses of $3.01.
The USDA announced a private export sale of 190,000 MT of soybean meal to the Philippines for the 2025/26 marketing year. Additionally, as of Thursday, old crop sale commitments stood at 39.948 MMT, an 18% decline from the previous year, representing 96% of the USDA estimate.
In related news, Brazil’s soybean exports reached 14.825 MMT in May, up from 14.099 MMT a year ago. Argentina’s soybean crop is reported at 91.7% harvested, with an estimated total of 50.1 MMT, according to the Buenos Aires Grain Exchange.
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