Soybean Prices Decline Ahead of Xi-Trump Meeting
Soybean prices declined on Friday by 9 to 17 cents across various contracts, with November managing to hold onto a 7 cent gain for the week. The cmdtyView national average Cash Bean price fell by 16 1/4 cents to $12.44 1/4. In contrast, soymeal futures dropped by $7 to $14.10 in the front months, with October experiencing a $7.80 increase this week.
Soy oil prices declined by 89 to 129 points on Friday, with October down 149 points for the week. The Commodity Futures Trading Commission (CFTC) reported that managed money reduced their net long position in soybean futures and options by 21,321 contracts in the week of September 15 to 244,710 contracts.
The USDA announced a private export sale of 111,000 MT of soybeans for 2026/27 to China. This comes ahead of President Xi's visit to the US next week to meet with President Trump, where trade is expected to be discussed. Additionally, Secretary Bessent will travel to China over the weekend to set up talks for the upcoming meeting.