Soybean futures experienced slight losses on Friday, with July contracts ending at $11.13 ½, down 1 ½ cents. For the week, July dropped 8 cents and November futures slipped 5 ½ cents. The cmdtyView national average cash bean price was $10.60 ½, also reflecting a 1 cent decline. Soymeal futures were mixed, while soy oil futures were lower, with July up 16 points for the week.
According to the Weekly Commitment of Traders data from the CFTC, spec funds recorded a historic bear move of 65,294 contracts, bringing the net long to 90,756 contracts as of Tuesday. In the soybean meal market, managed money reduced their net long by 74,468 contracts to 52,602 by June 9.
The upcoming NOPA report is expected to reveal a May crush of 216.02 million bushels, with soybean oil stocks estimated at 1.855 billion pounds. Additionally, USDA export sales for the 2025/26 soybean season reached 40.15 million metric tons, representing 97.7% of the USDA’s revised lower projection.
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