International Soybean Market
12-Jul-2025 08:23 AM
International Soybean Market
USDA reported a private export sale of 219,000 metric tons of new crop soybeans to Mexico this morning.
According to the weekly CFTC data, managed money flipped to a net short of 6,216 contracts in soybean futures and options as of July 8, down 6,641 contracts from their previous slight net long position. Commercial traders cut their net short position by 9,392 contracts, now at 110,199 contracts.
In USDA’s monthly WASDE report, US soybean exports were raised by 15 million bushels, offset by a 15 million bushel cut in residual, keeping old crop carryover unchanged at 350 million bushels.
For the new crop, several adjustments were made: production was reduced by 5 million bushels to 4.335 billion bushels due to lower acreage. Exports were slashed by 70 million bushels, while crush was raised by 50 million bushels. This raised the projected carryover by 15 million bushels to 310 million bushels.
Globally, USDA increased Argentina’s 2024/25 production estimate by 0.9 million metric tons to 49.9 million metric tons, while Brazil's estimate remained at 169 million metric tons. World ending stocks for 2025/26 were increased by 0.77 million metric tons to 126.07 million metric tons.
Safras & Mercado estimates Brazil's 2025/26 soybean crop at 179.88 million metric tons, higher than USDA’s 175 million. The estimated acreage is projected to rise by 576,000 hectares (1.4 million acres) to 48.217 million hectares (119.14 million acres).