USDA reported a private export sale of 22,000 MT of soybean oil to South Korea for 2025/26 shipment.

CFTC’s weekly Commitment of Traders report showed managed money flipping to a net short of 14,714 contracts by Tuesday, a 26,678-contract shift to the short side.

USDA’s monthly Crop Production report cut US soybean yield by 0.1 bpa to 53.5 bpa, which was still above estimates. Both planted and harvested acres were raised by 0.21 million acres. Production was raised 8 mbu to 4.3 bbu, against expectations for a 21 mbu cut. USDA pegged old crop ending stocks at 330 mbu, while 2024/25 stocks were raised 10 mbu to 300 mbu, with exports cut 20 mbu and crush raised 15 mbu.

On the global side, soybean stocks fell 1.61 MMT to 123.58 MMT, mainly due to lower old crop Argentina stocks. New crop global carryout was trimmed 0.91 MMT to 123.99 MMT.