Soybean Prices Rebound Slightly After Recent Declines
On Monday morning, soybean futures saw gains of between 9 to 11 cents per bushel following a decline on Friday. The November contract managed to hold onto a small weekly gain despite the drop in open interest by over 10,591 contracts, primarily from nearby months. Meanwhile, cash bean prices fell slightly at $12.44 1/4 as of Monday morning. Managed money investors reduced their net long position in soybean futures and options by nearly 21,321 contracts during the week ending September 15 to a total of 244,710 contracts. Additionally, soymeal and soy oil prices also declined on Friday with mixed weekly performance across different months. The USDA reported a private export sale of 111,000 metric tons for the 2026/27 crop to China, which may influence trade discussions during President Xi's upcoming visit to the U.S. Brazil’s soybean planting progress is ahead of last year at 1.2% as of Thursday.
