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The soybean market gained traction on Friday, with contracts closing 25 to 28 cents higher after the EPA proposed a 5.61 billion gallon limit for Biomass-based diesel starting in 2026. The nearby July contract rose by 12.5 cents over the week to $10.69 3/4, while November increased by 17.75 cents. The Cash Bean price also saw an uptick of 25.75 cents, reaching $10.20 1/2.
Soymeal futures fell by $3.20 to $3.40 per ton, while Soy Oil surged with an 311-point gain for July. The Commitment of Traders report from CFTC indicated an addition of 17,038 contracts to the managed money net long position as of June 10th. NOPA crush data will be released on Monday, with expectations of 193.52 million bushels crushed among members in May.
U.S. soybean export commitments reach 48.713 million metric tons, 97% of the USDA’s forecast, with shipments totaling 45.119 million metric tons, matching the typical shipping pace.
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