Soybeans Correct Lower into the Long Weekend

Soybeans experienced a decline in price during the long weekend. The national average Cash Bean price dropped by 6 1/4 cents, reaching $12.51 3/4. Soymeal futures showed mixed results, closing $1.90 lower but $20 higher than the previous Friday session. October Soymeal futures saw a significant decrease of 193 points since last Friday, with October contracts down 29 to 81 points. Soy Oil also experienced a drop of 29 to 81 points, with October falling 193 points since the previous Friday.

The USDA reported private export sales of 250,600 metric tons (MT) to unknown destinations during the reporting period, bringing the weekly total of announced sales to 939,600 MT involving both unknown destinations and China. Coffee prices consolidated above Thursday's lows in the market report.

According to the latest CFTC report, managed money increased their net long position in soybean futures and options by 42,929 contracts, reaching a near-record 241,183 contracts, mostly through new long positions. Speculative traders held the largest recorded net long position in soybean meal, with 158,741 contracts as of Tuesday, up 61,705 contracts from the previous day.

Old crop beans held commitments of 41.86 million MT, a 18% decrease from the same week last year, but still accounting for 101% of the USDA's export projection. New crop sales accumulated to 16.28 million MT, more than double the same week last year and representing 36% of the USDA's projection. Brazil shipped 9.81 million MT of soybeans in August, down from July but 5.17% above August 2025 levels. As of the publication date, Austin Schroeder had no positions in any of the securities mentioned in the article.