Soybeans Post Friday Gains, Despite Larger US Stocks

Group 1: Soybean Market Performance - Soybeans experienced gains of 12 to 13 cents in the front months, with November up 19 ¼ cents since last Friday [1] - The national average Cash Bean price increased by 13 cents to $9.70 1/4 [1] - Soymeal futures rose by 60 cents to $1.50, with October up $7.10 for the week [1] - Soy Oil futures closed with gains of 49 to 59 points, with October up 86 points this week [1] Group 2: Export and Production Data - USDA reported a private export sale of 22,000 MT of soybean oil to South Korea for 2025/26 shipment [2] - The monthly Crop Production report indicated a slight reduction in US yield to 53.5 bushels per acre (bpa), with production up 8 million bushels (mbu) to 4.3 billion bushels (bbu) [4] - World soybean stocks decreased by 1.61 million metric tons (MMT) to 123.58 MMT, primarily due to a drop in old crop Argentina stocks [5] Group 3: Market Positioning and Trends - The Commitment of Traders report showed managed money shifting to a net short position of 14,714 contracts, a change of 26,678 contracts to the short side [3] - The USDA projected old crop ending stocks at 330 mbu, with the 2024/25 marketing year seen up 10 mbu at 300 mbu, reflecting a 20 mbu cut to exports and a 15 mbu increase to crush [4] - NOPA data is anticipated on Monday, with expectations for August crush among members at 182.857 mbu [5]