Soybean bulls fought back on Friday, with futures closing 5 to 8 cents higher on the session. July was down 40 ¼ cents this week, as November fell 36 cents. The cmdtyView national average Cash Bean price was up 4 3/4 cents at $9.84 1/2. Soymeal futures closed the day with more steady trade, firm to 20 cents lower, as July fell $13 this week. Soy Oil ended the day with 15 to 22 point losses, as July fell back 202 points this week. 

Commitment of Traders data from Friday afternoon showed managed money slashing 35,717 contracts from their modest net long in soybean futures and options. By June 24th, that net long was just 23,448 contracts. In soybean meal, spec traders were a record net long 110,080 contracts.

The forecast is a little spottier this next week with the central Corn Belt looking at 1-2 inces in IA/MN/MO, with southern parts of the ECB seeing up to an inch.

USDA reported a private export sale of 119,746 MT of soybeans to Mexico for 2025/26.

USDA will release their Grain Stocks report on Monday, with traders surveyed by Bloomberg looking for 974 mbu of soybean stocks on June 1, with a range of 936 mbu to 1.022 bbu. That survey also showed an estimated 83.5 million soybean acres.

Export commitments of soybeans are 49.474 MMT, as of June 19, which is 98% of the USDA projection, down from the 5-year average of 102%.

StatsCanada estimates the Canadian canola acreage at 21.457 million acres, down 2.5% from last years. Soybean acres are seen up 0.5% to 5.737 million acres.

Jul 25 Soybeans  closed at $10.27 3/4, up 5 cents,

Nearby Cash  was $9.84 1/4, up 4 3/4 cents,

Aug 25 Soybeans  closed at $10.33 1/4, up 5 1/2 cents,

Nov 25 Soybeans  closed at $10.24 3/4, up 8 1/4 cents,

New Crop Cash  was $9.73, up 8 1/4 cents,