US Soybean Futures Decline on Weak Export Sales Ahead of Long Weekend
The US soybean market saw weakness on Friday ahead of the long weekend, as futures declined after yesterday's increases. The USDA announced a private export sale for 250,600 tonnes of 2026-27 soybeans to unknown destinations.
This sale comes amidst export sales of old crop U.S. soybeans reaching 101 per cent above the USDA's projection, while new crop sales are double those from last year and 36 per cent of the department's 2026-27 goal.
The USDA attaché in New Delhi estimated India's 2026-27 soybean crop at 9.6 million tonnes, down from the 2025-26 harvest of 10.7 million due to less than ideal monsoon rains.
The wheat market also saw weakness on Friday as traders moved towards possible peace talks in the Russia-Ukraine war, with Russian President Vladimir Putin remaining hopeful for a peace deal with Ukraine.