Soybeans faced more weakness to close out the week, as contracts were down 2 to 8 cents on Friday. The weekly move for July was down 65 1/4 cents, with November down 52 ½ cents. The cmdtyView national average Cash Bean price was down 7 cents at $10.63 1/4. Soymeal futures were down 20 cents to $5.20 in the front months, with July falling $21.30/ton this week. Soy Oil futures were 110 to 217 points lower, with July falling 360 points. Crude oil losses of $2.79 added some modest pressure.
USDA reported a private export sale of 190,000 MT of soybean meal to the Philippines for 2025/26 this morning.
Commitment of Traders data showed spec funds at a net long of 156,050 contracts of soybean futures and options, a 33,502 contract reduction on the week.
Export Sales data from Thursday showed old crop sale commitment at 39.948 MMT, an 18% decline from a year ago. That is 96% of the USDA estimate and lags the 99% average sale pace. Shipments are 35.58 MMT, 85% of the USDA number and behind the 90% average.
The NOAA 7-day forecast showed 1-2 cent losses in parts of IA through IN and MO, with spottier totals in MN, WI, MI, and OH.
Jul 26 Soybeans closed at $11.21 1/2, down 8 cents,
Nearby Cash was $10.63 1/4, down 7 cents,
Aug 26 Soybeans closed at $11.26, down 6 1/2 cents,
Nov 26 Soybeans closed at $11.37 1/2, down 4 cents,
New Crop Cash was $10.72 3/4, down 4 1/4 cents,
Austin Schroeder
here.