Soybeans slipped into the Friday close as fractional to 3 ¼ cent losses pulled the weekly gains to just 13 ¼ cents for the May contract. CmdtyView’s national front month Cash Bean price was down 3 cents at $10.03 ¾. Soymeal futures were up $1.30/ton, to slip $5.60 on the week. Soy Oil futures were down 44 points on the session, but still held onto 141 point gains this week. May options expired today.
Soybean spec funds were adding 4,898 contracts to their fresh net long position in futures and options trading, taking the net long to 31,067 contracts by Tuesday according to CFTC data.
Overnight, China issued some tariff relief in the form of exemptions. Soybeans did not make the list, but it may signal some pain is being felt in Beijing.
Thursday morning’s Export Sales report brought the total export sale commitments to 47.056 MMT, which is 13% above the same time in 2024. That is 95% of USDA’s export estimate and matches the 95% average pace.
May 25 Soybeans closed at $10.49 3/4, down 3 1/4 cents,
Nearby Cash was $10.03 3/4, down 3 cents,
Jul 25 Soybeans closed at $10.59 1/4, down 2 3/4 cents,
Nov 25 Soybeans closed at $10.35, down 1/2 cent,
New Crop Cash was $9.74 3/4, down 1/4 cent,
