Soybean futures maintained a degree of stability on Friday morning following Thursday’s significant decline, with contracts displaying only slight variations. Trading activity saw limited liquidation pressure compared to the previous session’s sell-off. The national average cash bean price settled at $10.70, reflecting a 24.5-cent decrease. Soymeal and soy oil futures continued their downward trajectory, falling $3.20-$7.10 and 123-242 points respectively. Declining crude oil prices by $3.11 contributed to the broader market pressure.
Export data from Thursday morning indicated old crop sales reached 276,852 metric tons – a three-week low but 42.45% higher than the same period last year. China emerged as the top buyer with 74,800 metric tons, followed by Mexico (67,400 MT) and Indonesia (53,700 MT). 2026/27 season sales totaled 243,000 MT, with unspecified destinations accounting for the largest single purchase of 132,000 MT, including 68,000 MT to Costa Rica.
Domestic processing activity showed bean meal sales at 231,752 metric tons, within analyst estimates of 200,000-600,000 MT. Soybean oil sales remained negligible at 27 metric tons, aligning with mid-range estimates for net reductions. Weather forecasts from NOAA predicted potential $1-2 cent losses across Iowa through Indiana and Missouri, with scattered impacts in Midwest states.
Brazilian soybean exports reached 14.825 million metric tons in May, surpassing last year’s 14.099 million metric tons. Argentina’s harvest stands at 91.7% completion with current estimates at 50.1 million metric tons.
July 26 soybean futures closed at $11.295, down 24.5 cents. Cash prices remained at $10.70. August 26 contracts settled at $11.325, showing a 25.75-cent decrease. November 26 futures ended at $11.415 with a 25.75-cent drop. New crop cash prices were $10.7625, down 25.75 cents.