**Soybean Futures Rise with Increased Managed Money Positions**
On Monday, soybean futures gained 8 to 15 cents, reversing losses from the previous week. As of May 26, July soybeans closed at $12.08, up 15 ¾ cents, while nearby cash was valued at $11.40 ½, also up 15 ¾ cents. The commodity saw a significant increase in open interest, rising by 8,707 contracts last Friday, indicating new buying activity.
According to Commitment of Traders data from May 5, managed money increased their net long position in soybean futures and options by 36,335 contracts, bringing the total to 221,617 contracts. Despite this growth, export sales commitments for soybeans reached 38.92 million metric tons, a decline of 18% from last year, and shipments were 23% below last year’s level at 33.24 million metric tons.
In further developments, China imported 8.48 million metric tons of soybeans in April, marking a 40% increase compared to the previous year. The USDA’s upcoming WASDE report is expected to maintain old crop US soybean stocks at 349 million bushels while projecting new crop stocks for September 1, 2027, between 308 and 479 million bushels.
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