Soybeans Showing Weakness on Friday
Soybean futures are trading with 2 to 3 cent losses across most contracts on Friday. There were 125 deliveries issued against September beans overnight. The cmdtyView national average Cash Bean price is down 2 1/2 cent at $9.52 1/4. Soymeal futures are $1.20 higher so far on the day, with Soy Oil futures 58 points lower at midday. There were no deliveries against September meal overnight, with 138 issued for September bean oil.
USDA reported private export sales of 123,000 MT of soybeans to unknown destinations, with 204,650 MT during the reported period to unknown this morning all for 2025/26
Export Sales data from this morning showed net reductions of 23,775 MT in the week of 8/28, in the middle of expectations of between net cancellations of 300,000 MT and sales of 50,000 MT. That was an improvement from the 189,184 MT in net reductions last week. New crop sales were 818,474 MT, which was on the lower side of estimates between 0.6 and 1.6 MMT. That was back down to a 4-week low, as China has yet to purchase a single bean.
Soybean meal sales were tallied at 4,317 MT in 2024/25 net reductions, with sales of 145,700 MT for 2025/26, on the low side of the expected 100,000 MT and 450,000 MT. Bean oil sales were pegged at 144 MT in net reductions for the current MY and sales of 1,821 MT for 2025/26, which was on the near the low end of 0 to 22,000 MT estimates.
The US/Japan trade deal was finalized on Thursday afternoon, with the White House stating Japan will increase “purchases of United States agricultural goods, including corn, soybeans, bioethanol (including for sustainable aviation fuel), as well as other United States products, in amounts totaling $8 billion per year.” For reference, Japan’s annual buying of those three specific good totaled $2.5 to $4.8 billion over the last 5 years.
US soybean yield is estimated at 53.2 bpa according to a survey of producers by StoneX, a 0.4 bpa drop from last month. Production is expected at 4.257 bbu.
Sep 25 Soybeans are at $10.15, up 3 cents,
Nearby Cash is at $9.52 1/4, down 2 1/2 cents,
Nov 25 Soybeans are at $10.30 1/2, down 2 1/2 cents,
Jan 26 Soybeans are at $10.49 1/4, down 2 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.