Soybeans are showing some early week strength, with futures are up 5 to 8 cents. There were another 5 deliveries issued for August soybeans overnight. The cmdtyView national average Cash Bean price was up 5 3/4 cents at $9.37 ½. Soymeal futures are showing gains of $2.40 to $3.70/ton. Soy Oil futures are mixed, with futures down 13 to 30 points higher. Another 492 contracts were issued for August meal, with 218 issued for August beans, all by CHS.
USDA tallied soybean export shipments at 612,539 MT (22.51 mbu) during the week ending on July 31, the highest since April. That was up 43.2% from last week, 67% above the same week last year and a 6-year high for that week. Of that total, 119,658 MT was headed to Germany, with 113,808 MT on its way to Egypt and 92,208 MT to Mexico. Marketing year exports have totaled 47.83 MMT (1.758 bbu), which is 10.9% above the same period last year.
The large managed money speculators in soybean futures and options added another 25,445 contracts back on to their net short as of July 29, taking their net position to 36,311 contracts by Tuesday.
USDA’s Fats & Oils report showed 197.1 mbu of soybeans crushed during June, above trade estimates and a record for the month. That was also 7.44% above last year but down 3.22% below May. Soybean oil stocks for the end of the month totaled 1.894 billion lbs, which was slightly higher than in May but still down 10.85% from last year.
StoneX projects the 2025/26 Brazilian soybean crop at 178.2 MMT, which is 5.6% higher vs. last year, mainly on increased acreage. Celeres estimates the crop at 177.2 MMT
Aug 25 Soybeans are at $9.69 3/4, up 8 cents,
Sep 25 Soybeans are at $9.74 1/2, up 5 cents,
Nov 25 Soybeans are at $9.94 1/2, up 5 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
