Soybean International Market
According to CFTC data released Friday, Managed Money reduced its previous record net long position in soybean futures and options by 21,321 contracts during the week of September 15. Its net long position now stands at 244,710 contracts.
The USDA reported a private export sale of 111,000 MT of soybeans to China for the 2026/27 marketing year this morning. Chinese President Xi Jinping will visit the United States next week to meet with President Trump, with trade expected to be an important topic of discussion. U.S. Treasury Secretary Bessent traveled to China this weekend to prepare for next week’s talks.
According to the USDA Export Sales report, current marketing-year soybean export commitments have reached 20.631 MMT, more than double the same week last year. This is already 45% of the USDA export projection and ahead of the 36% average pace of the last five years.
Sinograin, China’s state stockpiler, is scheduled to auction 543,000 MT of imported soybeans next Tuesday.
