Soybeans opened lower on Friday, with futures trading 11 to 12 cents below Thursday’s peaks. The prior session saw contracts surge 13 to 22 cents higher, while open interest rose by 6,206 contracts, signaling new buying. The cmdtyView national average Cash Bean price closed at $12.74 ½, up 22 ½ cents. Soymeal futures gained $2.30 to $5.50, and Soy Oil advanced 102 to 135 points. Overnight, one delivery was issued against September soybeans, three against soybean meal, and 134 against September bean oil; these expire Monday.
Weekly Export Sales data are due this morning, with Reuters surveyors expecting the range from no sales to net cancellations of 500,000 MT for 2025/26 soybeans. New crop sales are forecast between 1 and 2.6 MMT for the week of September 3, while soybean meal sales are projected at 150,000 to 950,000 MT, with 0 to 12,000 MT.
The USDA will release updated monthly WASDE and Crop Production data today. Bloomberg surveyors expect average yield to be trimmed 0.3 bpa to 52.4 bpa, with production down 27 mbu to 4.492 bbu. Old crop stocks are seen falling 5 mbu to 320 mbu, and new crop US carryout is expected to decline 29 mbu to 291 mbu.
As of early Friday, Sep 26 Soybeans were unchanged at $13.18 ¼, while Nov 26 and Jan 27 contracts traded 11 ¾ cents lower at $13.32 ¼ and $13.47 ¼, respectively. Thursday’s closes saw Sep 26 up 23 cents, Nov 26 up 22 ¾ cents, and Jan 27 up 22 cents. Nearby Cash finished at $12.74 ½, up 22 ½ cents.
