Soybean prices rose on Friday, with July contracts increasing by 19.5 cents for the week to close at $11.96 1/2 per bushel. November contracts also saw a gain, rising 17 cents. The cmdtyView national average cash bean price was reported at $11.33 1/2, up 2 cents. Soymeal futures firmed by $3.50 on the day, while soy oil futures increased between 8 and 37 points.
The USDA announced a private export sale of 252,000 metric tons of soybean meal to unspecified destinations, with 117,000 MT allocated for the 2025/26 crop year and 135,000 MT for 2026/27. Additionally, the weekly export sales report indicated soybean export commitments now stand at 39.371 million metric tons (MMT), an 18% decrease from the previous year, representing 95% of the USDA’s forecast.
As of Tuesday, spec funds have cut their net long positions in soybean futures and options by 7,011 contracts, bringing the total to 207,804 contracts. The Chicago Board of Trade (CBoT) will remain closed on Monday for Memorial Day.
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