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Soybeans ease after Labor Day weekend as futures dip
Tuesday trading showed soybeans down 5 to 6 cents, with the USDA citing 250,600 MT of private export sales for 2026/27 shipping.
Soybeans were lower in Tuesday morning futures trading, down 5 to 6 cents, following Friday losses. Yahoo Finance noted that November futures posted Friday losses of 6 1/2 to 12 1/2 cents, even as November had gained 21 3/4 cents over the week.
The report said the cmdtyView national average cash bean price fell 6 1/4 cents to $12.51 3/4. Soymeal futures were mixed on Friday, with contracts down $1.90 to 20 cents higher, while soy oil was 29 to 81 points lower, including a 193-point decline since last Friday for October.
Open interest rose by 8,381 contracts on Friday. There were no deliveries overnight against September soybean futures, with 106 deliveries for September meal and 11 for bean oil.
On the demand side, the USDA reported private export sales of 250,600 MT to unknown destinations during the Friday reporting period for 2026/27 shipment, bringing the weekly total of announced sales to 939,600 MT to both unknown and China. Yahoo Finance also cited a weekly CFTC report showing managed money increasing its net long in soybean futures and options by 42,929 contracts to a near record 241,183 contracts, alongside meal specs reaching a record net long of 158,741 contracts, up 61,705 contracts. Brazil soybean shipments were pegged at 9.81 MMT for August, and Chinese August imports were 12.14 MMT, up 5.7% year over year.
Latest closeSoybeans $1,308.75 ▲0.5%