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Soybean futures showed slight movement on Friday, with the cmdtyView national average cash bean price rising by 0.5 cents to $10.50 1/2. Meanwhile, soymeal futures fluctuated between steady and a 50 cents increase, and soy oil futures dropped by 35 to 42 points.
International Grains Council data reported a 2 MMT decrease in world soybean production, with consumption up by 1 MMT, leading to a reduction in ending stocks to 77 MMT. Additionally, the Buenos Aires Grains Exchange noted that soybean planting advanced by 12% over the week to reach 24.6%, although this figure remains 11% behind the same period last year.
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