Soybeans Post Friday Strength, Led by Bean Oil | U.S. Finance News
Soybean futures held the good points for a lot of the Friday session, as contracts closed up 2 to three ½ cents throughout the entrance months. September was 14 ¼ cents increased this week, with November up 16 cents. The cmdtyView national average Cash Bean price was up 2 ¼ cents at $9.88. Soymeal futures had been down a dime to $3.40 on Friday, with September up 13 ¾ cents this week. Soy Oil futures had been up 120 to 146 factors on the day, as September was 166 factors increased since final Friday.The EPA granted full Small Refinery Exemptions to 63 of the 175 petitions from the 2016-2024 backlog this morning, with one other 77 partial exemptions granted. There had been 28 petitions denied and seven listed as ineligible.
Don’t Miss a Day: From crude oil to espresso, signal up free for Barchart’s best-in-class commodity evaluation. The Friday afternoon Commitment of Traders report confirmed the spec fund crowd in soybean futures and choices flipping to a web long of simply 3 contracts as of August 19. That was a transfer of 35,273 contracts from the earlier web short. Commercials added 28,135 contracts to their web short place as of Tuesday to 114,151 contracts. In soybean meal, specs lined 24,070 contracts from their giant web short to -85,239 contracts.Weekly Export Sales information has previous crop soybean commitments at 51.058 MMT, which is 100% of the USDA export projection and lags the 103% average gross sales tempo. New crop gross sales have reached 5.855 MMT, all with out Chinese shopping for, which is down 22.4% from final 12 months at this time.Following the Midwest crop tour this week, ProFarmer estimated the 2025 soybean national yield at 53 bpa. Production was estimated at 4.246 billion bushels. That is available in under the 53.6 bpa and 4.292 bbu reported under USDA’s estimate final week.Sep 25 Soybeans closed at $10.36 1/2, up 2 cents,
Nearby Cash was $9.88, up 2 1/4 cents,Nov 25 Soybeans closed at $10.58 1/2, up 2 1/2 cents,Jan 26 Soybeans closed at $10.77, up 3 1/4 cents,New Crop Cash was $9.81 1/2, up 2 1/2 cents,
On the date of publication,
Austin Schroeder
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