Soybeans Pushing Higher on Monday Morning, with Specs Back to Net Long
Soybeans are trading with Monday morning gains of 4 to 6 cents. Futures fell lower on Thursday, with losses of 1 to 3 cents heading into the 3-day weekend. May beans were down 6 ¼ cents last week, as November was up 7 cents. CmdtyView’s national front month Cash Bean price was down 2 cents at $9.85 3/4. Soymeal futures was back down 90 cents to $1.00/ton, as Soy Oil futures are up 32 to 38 points.
Commitment of Traders data tallied specs in soybean futures and options at a net long of 26,169 contracts on April 15, a move of 76,616 contracts from the previous net short position.
USDA Export Sales data showed a total of 554,806 MT of soybeans sold in the week ending on April 10. Total commitments are now 46.779 MMT, which is now 94% of the USDA export forecast and slightly lagging the 95% average pace.
International Grains Council data showed world soybean production for 2024/25 down 1 MMT from last month, as use was unch. That caused stocks to be trimmed by 1 MMT to 81 MMT. For the 2025/26 crop, projected output was up 1 MMT and consumption increased by the same. The stocks projection for new crop was steady at 83 MMT.
May 25 Soybeans closed at $10.36 1/2, down 2 1/4 cents, currently up 5 1/2 cents
Nearby Cash was $9.85 3/4, down 2 cents,
Jul 25 Soybeans closed at $10.47 3/4, down 2 1/2 cents, currently up 4 3/4 cents
Nov 25 Soybeans closed at $10.32 1/2, down 1 3/4 cents, currently up 4 1/2 cents
New Crop Cash was $9.71 1/1, down 1 3/4 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. For more information please view the Barchart Disclosure Policy here.
