Soybean futures are experiencing a decline on Friday morning, trading down 11 to 12 cents after a rally on Thursday, where contracts increased by 13 to 22 cents. Notably, open interest rose by 6,206 contracts, indicating new buying interest. The cmdtyView national average cash bean price increased by 22.5 cents, reaching $12.74. Sales data is expected shortly, with analysts predicting net cancellations of 500,000 metric tons (MT) for 2025/26 soybeans, and new crop sales estimated between 1 to 2.6 million MT for the week ending September 3.
Additionally, the USDA will release updated monthly WASDE and Crop Production data today. Analysts anticipate a yield decrease of 0.3 bushels per acre (bpa) to an average of 52.4 bpa, with production expected to drop by 27 million bushels (mbu) to 4.492 billion bushels (bbu). Old crop stocks are projected to fall by 5 mbu to 320 mbu, while new crop US carryout is estimated to decline by 29 mbu to 291 mbu.
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