Soybean Complex Posts Some New Highs, But Closes Lower on Friday

Austin Schroeder Barchart Fri Jun 20, 4:20PM CDT
Soybean field and sunshine by fotokostic via iStock

The soybean market settled 5 ¼ to 7 ½ lower on Friday, after hitting the highest front month prices since mid-May early in the session. The cmdtyView national average Cash Bean price is down 5 3/4 cents at $10.20 3/4. Soymeal futures settled 20 to 90 cents lower, giving up modest midday gains in favor of holding cash over the weekend.  Soy Oil saw nearby July hit the highest price for the contract since 2023 this morning, but futures closed 30 to 37 points lower. July options expired in all three commodities. 

The weather outlook for next week has some heavy rains from NE, the southeast corner or SD, MN, WI and parts of MI totaling from 1 to up to 5 inches in some parts. The Southern Plains, through MO and the Eastern Corn Belt is looking at smaller totals. Coverage will not be uniform, however, with Omaha as an example looking at 20-40% odds on any given day. Unseasonable heat is expected to prevail over much of the Corn Belt, with the 5-10 day looking for 7-15˚F above average in the ECB. Daytime highs above 100 degrees F are seen this weekend in the Plains and WCB but will moderate by early next week. 

This morning’s Export Sales report tallied soybean sales for 202/25 exceeding the 0 and 400,000 MT trade expectations, for old crop soybeans the week of 6/12 at 539,511 MT. That was a 14-week high and 8.3% above the same week in 2024. New crop sales were at 75,151 MT, in the middle of the 0 to 200,000 MT estimates and the highest in 5 weeks.

Soybean meal sales for last week totaled 174,302 MT, with just 160,281 MT for the current marketing year and on the low side of the trade ideas at 150,000 to 450,000 MT. Soybean oil sales were a net negative 1,473 MT on deferrals and cancellations, weaker than trade estimates of 0 to 32,000 MT for bean oil. 

Chinese soybean imports in May totaled 12.11 MMT from Brazil, well above last year according to the country’s customs data. Imports originating from the US were 11.7% higher yr/yr to 1.63 MMT.

Jul 25 Soybeans  closed at $10.68, down 6 3/4 cents,

Nearby Cash  was $10.20 3/4, down 5 3/4 cents,

Aug 25 Soybeans  closed at $10.71 1/2, down 5 1/4 cents,

Nov 25 Soybeans  closed at $10.60 3/4, down 7 1/2 cents,

New Crop Cash  was $10.07 1/4, down 7 1/4 cents,


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.