Soybean markets opened the week with broad-based strength, as cash prices and most futures contracts moved higher. The cmdtyView national average cash bean price reached $11.33¾, up a penny from the prior session. August soybeans closed at $11.56½, down fractionally but holding gains in morning trading at 3½ cents higher. September futures closed at $11.59, down a cent on the day but up 6¼ cents in the morning session, while November futures closed at $11.76¼, down 1½ cents but up 5¾ cents during the overnight session.
Soy oil demonstrated particularly strong performance, rising 40 to 50 points in futures trading and posting weekly gains of 98 cents. However, soymeal futures faced headwinds, falling $2.60 on the day with losses of $6 for the week. August soybean futures ended the prior week down 11¾ cents, indicating some volatility in recent trading.
On the export front, a private sale of 238,000 metric tons of soybeans to China was reported for the 2026/27 marketing year. Trader positioning data showed speculative traders reducing their net long position in soybean futures and options by 29,535 contracts during the week ending on August 4, with net longs standing at 125,466 contracts by Tuesday.
Looking ahead to mid-week announcements, a Reuters survey of traders indicated expectations for the National Agricultural Statistics Service to set the US soybean yield at 52.9 bushels per acre in an upcoming report. Harvested acreage was projected at 84.564 million acres, representing an increase of 163,000 acres from the June estimate, with total production anticipated at 4.472 billion bushels.
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