Soybeans are trading with fractional losses on Monday AM. Futures posted 12 to 13 cent gains in the front months on Friday, as November was up 19 ¼ cents on the week. Preliminary open interest was up 2,351 contracts on Friday. There were 20 deliveries against the expiring September contract on Friday, with the monthly total at 1,034 contracts. The cmdtyView national average Cash Bean price was up 13 cents at $9.70 1/4. Soymeal futures were up 60 cents to $1.50, with October up $7.10 on the week. Soy Oil futures closed with 49 to 59 point gains, as October was up 86 points last week. The CME reported another 3 September soybean meal deliveries issued on Friday, taking the month’s total to 245, with 161 reported for bean oil, which took the monthly total to 1,293 deliveries.

The weekly Commitment of Traders report from CFTC indicated managed money flipping to a net short position of 14,714 contracts by Tuesday, a move of 26,678 contracts to the short side. 

The monthly Crop Production report showed a 0.1 bpa cut to US yield at 53.5 bpa, above estimates. Acres were up 0.21 million on both the planted (81.135 million) and harvested side. Production was up 8 mbu at 4.3 bbu, vs. estimate calling for a 21 mbu reduction. USDA led the old crop ending stocks along this month at 330 mbu, with the 2024/25 MY seen up 10 mbu at 300 mbu, with a 20 mbu cut to exports and 15 mbu increase to crush. 

World soybean stocks were down 1.61 MMT to 123.58 MMT, mainly on a drop in old crop Argentina stocks. New crop world bean carryout was down 0.91 MMT to 123.99 MMT.

NOPA data is out on Monday, with traders looking for August crush among members at 182.857 mbu.

Sep 25 Soybeans  closed at $10.25 3/4, up 20 1/4 cents,

Nearby Cash  was $9.70 1/4, up 13 cents,

Nov 25 Soybeans  closed at $10.46 1/4, up 12 3/4 cents, currently down 1/4 cents

Jan 26 Soybeans  closed at $10.65 1/4, up 12 3/4 cents, currently down 1/2 cents

New Crop Cash  was $9.70 1/4, up 13 cents,