Soybean futures experienced gains of 16 to 17 cents in front-month contracts on Friday. The cmdtyView national average cash bean price rose to $11.42 3/4, reflecting a 17-cent increase. Export sales data revealed soybean sale commitments at 38.92 million metric tons (MMT), an 18% decline from last year, and lagging behind the USDA’s full-year projection at 93% of the forecast. Shipments reached 33.24 MMT, down 23% from last year, equating to 79% of the USDA’s estimate.
The USDA is set to release its World Agricultural Supply and Demand Estimates (WASDE) report on Tuesday, with a Bloomberg survey predicting old crop U.S. soybean stocks at 349 million bushels (mbu), consistent with April’s figure. The new crop data is expected to show stocks ranging from 308 to 479 mbu for September 1, 2027.
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