Soybeans posted Friday losses of 6 to 9 cents on the session, with futures failing to see bulls present up after USDA knowledge was launched. August soybeans dropped 51 1/4 cents this week, as November fell 42 cents from final Thursday’s shut. The cmdtyView nationwide common Money Bean value was down 7 3/4 cents at $9.64 1/4. Soymeal futures had been down 90 cents to $1.80/ton, as Soy Oil was 12 to 26 factors larger.
USDA reported a non-public export sale of 219,000 MT of recent crop soybeans to Mexico this morning.
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Weekly CFTC knowledge confirmed managed cash in soybean futures and choices flipping to a web in need of 6,216 contracts as of July eighth. That was a transfer of 6,641 contracts from their earlier minute web lengthy place. Commercials trimmed 9,392 contracts from their web brief place to 110,199 contracts as of Tuesday.
The month-to-month WASDE replace from USDA confirmed a 15 mbu enhance to their US export determine, which was offset by a 15 mbu lower to residual. That left the outdated crop carryout at 350 mbu. For brand new crop there have been a number of extra changes made, with manufacturing timed by 5 mbu to 4.335 bbu on a discount to acreage. Exports had been slashed by 70 mbu, with crush raised by 50 mbu. That helped to lift the projected carryout to 310 mbu, up 15 mbu.
On the world facet of the USDA stability sheets, Argentina manufacturing for 2024/25 was up 0.9 MMT to 49.9 MMT, with Brazil left at 169 MMT. The projected 2025/26 world ending shares quantity was raised by 0.77 MMT to 126.07 MMT.
Safras & Mercado estimates the 2025/26 Brazilian soybean crop at 179.88 MMT, in comparison with the USDA at 175 MMT. They estimate acreage to rise 576,000 hectares (1.4 million acres) to 48.217 million hectares (119.14 million acres).
Jul 25 Soybeans closed at $10.04, down 8 1/2 cents,
Close by Money was $9.64 1/4, down 7 3/4 cents,
Aug 25 Soybeans closed at $10.04 1/4, down 8 1/4 cents,
Nov 25 Soybeans closed at $10.07 1/4, down 6 1/2 cents,
New Crop Money was $9.58 3/4, down 6 1/2 cents,
On the date of publication,
Austin Schroeder
didn’t have (both instantly or not directly) positions in any of the securities talked about on this article. All data and knowledge on this article is solely for informational functions.
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