Soybean futures experienced gains on Friday, with September futures rising 18¾ cents for the week to close at $11.77¾, while November futures increased 16¼ cents to $11.92½. The cmdtyView national average cash bean price went up 10¾ cents, reaching $11.50. Total private export sales announced for the week amounted to 641,000 metric tons (MT), all to China, which included a notable sale of 136,000 MT reported by the USDA for the 2026/27 shipment.
Current USDA export sales show old crop soybean sales at 41.79 million metric tons (MMT), exceeding the USDA forecast at 101% and aligning with recent average sales paces. New crop sales reached 10.13 MMT, representing a four-year high and more than double the figures from the same period last year. Additionally, the NOPA data set to release on Monday is anticipated to show soybean crush estimates at 221.5 million bushels for July, surpassing last year’s figures by over 25 million bushels.
Managed money has reduced its net long position by 24,104 contracts, resulting in a current total of 101,362 contracts. On Wednesday, China’s Sinograin will auction 360,000 MT of imported beans.
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