Soybeans Rallying into Friday’s Midday Despite Higher Stocks Number

Soybeans are showing 9 to 10 cent gains so far on Friday, following a production and stocks increase by the USDA. There were 24 deliveries issued against September soybeans overnight. The cmdtyView national average Cash Bean price is up 9 cents at $9.66 1/4. Soymeal futures are up $1.30, with Soy Oil futures 41 points higher. The CME reported another 4 September soybean meal deliveries issued, with 2 reported for bean oil. September futures expire today.

USDA reported a private export sale of 22,000 MT of soybean oil sold to South Korea this morning for 2025/26 shipment.

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The monthly Crop Production report showed a 0.1 bpa cut to US yield at 53.5 bpa, above estimates. Acres were up 0.21 million on both the planted (81.135 million) and harvested side. Production was up 8 mbu at 4.3 bbu, vs. estimate calling for a 21 mbu reduction. USDA led the old crop ending stocks along this month at 330 mbu, with the 2024/25 MY seen up 10 mbu at 300 mbu, with a 20 mbu cut to exports and 15 mbu increase to crush.

World soybean stocks were down 1.61 MMT to 123.58 MMT, mainly on a drop in old crop Argentina stocks. New crop world bean carryout was down 0.91 MMT to 123.99 MMT.

NOPA data is out on Monday, with traders looking for August crush among members at 182.857 mbu.

Sep 25 Soybeans  are at $10.15 1/4, up 9 3/4 cents,

Nearby Cash  is at $9.66 1/4, up 9 cents,

Nov 25 Soybeans  are at $10.42 3/4, up 9 1/4 cents,

Jan 26 Soybeans  are at $10.61 1/2, up 9 cents,

New Crop Cash  is at $9.66 1/4, up 9 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

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