Soybeans closed out the Friday session with contracts down 9 to 12 cents across the board. November added to last week’s losses, down another 32 ¼ cents this week. CmdtyView’s national front month Cash Bean price was down 9 cents at $9.43. Soymeal futures were down $1 to $1.70/ton on the day. Soy Oil contracts were down 43 to 46 points on the session.

USDA reported private export sale of 132,000 MT of soybeans to unknown destinations this morning.

Crop Production data pegged a slightly lower US soybean yield this morning at 53.1 bpa, down 0.1 from last month. That trimmed the US production total by 4 mbu to 4.582 billion bushels. NASS did note that while the producers’ surveys came after Hurricane Helene made landfall, “the full impact from the storm may not be reflected until future reports.” With the slight 2 mbu increase to 2023/24 carryover, the 2024/25 US stocks total came out to 550 mbu, unchanged from last month, as the World Ag Outlook Board adjusted residual accordingly. 

For the World numbers, the monthly WASDE saw no changes to the South American output totals. World ending stocks were up just a slight 0.07 MMT to 134.65 MMT. 

CFTC data from this afternoon pegged managed money trimming another 13,088 contracts from their net short in soybeans futures and options. They held a net short of 21,798 contracts as of October 8. Commercials added another 9,952 contracts to their net short, at 40,284 contracts by that date.

Nov 24 Soybeans  closed at $10.05 1/2, down 9 1/4 cents,

Nearby Cash  was $9.43, down 9 cents,

Jan 25 Soybeans  closed at $10.21, down 10 1/2 cents,

May 25 Soybeans  closed at $10.49 1/4, down 12 cents,