Soybeans Starting Thursday Trade with Slight Weakness

Soybean futures were slightly weaker Thursday morning, down about 1 to 2 cents, even after Wednesday saw gains of 6 to 17¼ cents. The market reaction came despite a neutral to slightly bearish USDA report. Open interest fell by 2,948 contracts, suggesting some short covering. The cmdtyView national average cash price rose 14¾ cents to $11.41. Soymeal futures were $1.30 to 3.50 higher, while soy oil gained 15 to 64 points. The report also cited 26 deliveries against August soybeans overnight (2 soy meal, 91 bean oil) expiring Friday. USDA NASS estimated the 2026 yield at 52.7 bushels per acre, with planted acreage at 86.8 million and harvested at 85.8 million, lifting production versus the July WASDE projection.