Soybean futures retreated during Monday morning trading, with September contracts declining 4½ cents and November contracts falling 6½ cents. This downturn followed a stronger Friday session when September futures had risen 1 to 4¼ cents at the close. For the week, September contracts had accumulated gains of 47¼ cents and November had advanced 47 cents.
The national average cash soybean price rose 3¼ cents to $12.02. Soymeal futures registered gains of $2 to $3.60 on the day, while September soymeal posted a weekly gain of $7.50. Soy oil futures declined, with losses ranging from 56 to 184 points, and September contracts slipped 9 points since the previous Friday.
The USDA reported sales of 712,000 metric tons of 2026/27 soybeans to China, along with 720,000 metric tons sold to unspecified destinations. Export sales data showed 2025/26 soybean sales at 39.992 million metric tons, down 18% from the prior year and representing 97% of the USDA export projection. New crop commitments reached 11.85 million metric tons, double the level from the same week last year and the largest volume in 4 years.
A Pro Farmer crop tour estimate placed the U.S. national soybean yield at 53.3 bushels per acre, with total production projected at 4.572 billion bushels. Commitment of Traders data indicated that managed money added 50,300 contracts to their net long position during the week ending August 18, bringing their total net long position to 151,662 contracts. China’s Sinograin was scheduled to auction 290,000 metric tons of imported soybeans the following Wednesday.
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