Soybean futures experienced losses on Friday, with August falling 5 ¼ cents to close at $11.72 and November dropping 1 ¼ cents to $11.87 ½. For the week, August lost 76 cents, while November decreased by 66 cents but recorded a monthly gain of 43 ¾ cents. The national average cash price for soybeans fell by 7 ½ cents to $11.41 ¼. Soymeal futures dropped $1.90 to $3.50, with a weekly decline of $19.10 for August, while soybean oil futures saw a decrease of 11 to 123 points.
The USDA reported a private export sale of 252,000 MT of soybeans for the 2026/27 crop year and noted that old crop soybean sales reached 41.682 MMT, exceeding the USDA forecast at 101%. New crop bean sales hit a four-year high at 7.469 MMT, up 146.1% compared to the same period last year. Commitment of Traders data indicated a net long position of 155,001 contracts in soybean futures as of July 28, with speculators adding 30,101 contracts that week.
Weekend rains are predicted for parts of Eastern Iowa, Southern Wisconsin and Michigan, Illinois, Indiana, and Ohio. Traders are anticipating the release of June crush data on Monday, expecting a soybean crush of 218.3 million bushels, with bean oil stocks estimated at 2.025 billion pounds.
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