Soybean Prices Decline Amid Weak Market Performance
On Friday, soybeans posted losses across most contracts with August down by 76 cents for the week. November futures also fell but managed a monthly gain of nearly 43.8 cents. Cash bean prices dropped to $11.41 per bushel as soymeal and soy oil futures also declined significantly. Despite weak price performance, USDA reported a private export sale of 252,000 metric tons for the 2026/27 crop year. Speculative traders increased their net long position in soybean contracts to over 155,000 by July 28. Old and new crop sales data showed strong performance compared to historical averages, with old crop sales at 41.682 million metric tons—meeting USDA forecasts—and new crop sales reaching a four-year high.
Topics: export sales futures prices soybeans USDA data