Soybean futures ended Friday's session down 6 to 9 cents, with the market failing to attract buyers following the release of USDA data. The August contract fell 51.25 cents for the week, while November lost 42 cents compared with last Thursday's close.
The national average cash soybean price, according to cmdtyView, stood at around $9.64 1/4 per bushel, down 7.75 cents. Soymeal futures fell by 90 cents to $1.80 per tonne, while soybean oil contracts rose 12 to 26 points.
The USDA announced on Friday morning a private sale of 219,000 tonnes of new-crop soybeans to Mexico.
Trading Data:
According to the Commodity Futures Trading Commission (CFTC) report for the week ended 8 July 2025:
- Managed money's net position in soybean futures and options flipped from net long to a net short position of 6,216 contracts, a shift of 6,641 contracts from the previous week.
- Commercial traders trimmed their net short position by 9,392 contracts to 110,199 contracts.
Key Findings From The Monthly WASDE Report:
- US export projections were raised by 15 million bushels, but residual use was trimmed by the same amount, leaving old-crop ending stocks unchanged at 350 million bushels.
- For the 2025/26 crop:
- Production was cut by 5 million bushels to 4.335 billion bushels due to reduced planted area.
- Exports were cut by 70 million bushels, while crush volume was raised by 50 million bushels.
- These adjustments raised projected ending stocks to 310 million bushels, an increase of 15 million.
Globally:
- The USDA raised its estimate for Argentina's 2024/25 production to 49.9 million tonnes, an increase of 0.9 million tonnes.
- Brazil's production estimate was left unchanged at 169 million tonnes.
- Global 2025/26 ending stocks were raised by 0.77 million tonnes to 126.07 million tonnes.
Safras & Mercado Estimates:
- Safras & Mercado estimated Brazil's 2025/26 soybean production at 179.88 million tonnes, compared with the USDA's estimate of 175 million tonnes.
- Planted area is expected to increase by 576,000 hectares to 48.217 million hectares (around 119.14 million acres).
