Soybean Futures Experience Friday Strength

The US soybean market experienced a positive Friday session, with contracts closing up fractionally in some deferred contracts, as much as 16 ¾ cents. September soybean futures were the standout performer, closing the week with a significant 55 ½ cent rally. This strong performance was also reflected in November soybean futures, which were up 43 cents. The cmdtyView national average Cash Bean price saw a notable increase of 13 3/4 cents, reaching $11.45 3/4.

Soybean Meal and Oil Futures Follow Suit

In line with the strong performance of soybean futures, soymeal futures also saw significant gains, ranging from $2.80 to $3.80 higher across most contracts. September soymeal futures were particularly strong, rallying $14.90 this week. Soy oil futures also experienced a notable increase, with September futures being 369 points higher on the week. This surge in soy oil futures was reflected in prices, which ranged from 11 to 54 points higher.

USDA Report and Private Export Sale Drive Market Sentiment

The USDA reported a private export sale of 264,000 MT of 2026/27 soybeans to China via the daily flash sales system. This sale, combined with the strong USDA report, contributed to the bullish sentiment in the market. The WASDE data from the report showed a 10 mbu drop to 2025/26 US soybean stocks, reaching 330 mbu, as exports increased by 10 mbu. New crop stocks remained steady at 310 mbu, with exports increasing by 30 mbu to offset the 40 mbu increase in production due to more acres.

The world side of the report also saw significant changes, with South America production for 2025/26 left unchanged. New crop world carryout, however, was reduced by 0.71 MMT to 124.17 MMT, primarily due to a 0.19 MMT smaller carryover from 2025/26 and a 0.5 MMT increase in Brazilian exports.

Commitment of Traders Data Reflects Market Sentiment

The Commitment of Traders data from Friday afternoon showed spec traders adding 37,479 contracts to their net long position in soybean futures and options in the week ending July 7. This increase came via a mix of new long interest and short covering, with the net long position reaching 68,679 contracts.

Key Statistics:

• Soybean futures closed the Friday session with contracts up fractionally in some deferred contracts, as much as 16 ¾ cents.
• September soybean futures closed the week with a 55 ½ cent rally.
• November soybean futures were up 43 cents.
• The cmdtyView national average Cash Bean price was up 13 3/4 cents, reaching $11.45 3/4.
• Soybean meal futures were $2.80 to $3.80 higher across most contracts.
• Soy oil futures were 11 to 54 points higher.