Soybeans Close Higher on Friday with September Contract Up 4¼ Cents amid Strong Demand Signals

Soybeans closed higher on Friday, with spot prices rising 1 to 4.25 cents, while the September contract gained 47.25 cents over the week. November futures also increased by 47 cents, as market participants factored in the recent expiration of September options. The national average cash bean price rose to $12.02 1/4, up 3.25 cents. Soymeal futures strengthened between $2 and $3.60 on the day, with the September contract up $7.50 weekly. In contrast, soy oil prices declined by 56 to 184 points, with the September contract slipping 9 points since the previous Friday.

The U.S. Department of Agriculture (USDA) reported the export of 712,000 metric tons of 2026/27 soybeans to China, alongside sales of 720,000 metric tons to unspecified destinations. Analysts noted strong global demand, particularly as traders anticipate tighter supplies following this week’s U.S. Crop Tour estimates. Pro Farmer projects a national soybean yield of 53.3 bushels per acre, with total production reaching 4.572 billion bushels, underscoring favorable growing conditions despite recent weather challenges.

According to the CFTC’s Commitment of Traders report, managed money funds added 50,300 net long contracts to their positions during the week ending August 18, increasing their total net long position to 151,662 contracts. Export sales data from Thursday further highlighted demand dynamics, with 2025/26 soybean sales totaling 39.992 million metric tons—a decline of 18% from the same period last year but representing 97% of USDA’s export forecast. New crop commitments surged to 11.85 million metric tons, doubling the figure from the previous year and marking the highest level in four years.

China’s state-owned Sinograin has scheduled an auction for 290,000 metric tons of imported soybeans next Wednesday, amid ongoing import demand. Market participants are closely monitoring global supply chains and potential policy shifts that could influence export flows. The September soybean futures closed at $12.25 1/4, while nearby cash prices and new crop contracts also showed modest gains, reinforcing the bullish sentiment in the market.

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