Soybeans failed to see much buying following the phone call between President Trump and xi of China this morning, as futures held the 10 to 12 cent losses into the close. November lost 20 3/4 cents this week. The cmdtyView national average Cash Bean price was down 11 3/4 cents at $9.49 1/4. Soymeal futures were a dime to 50 cents lower in the nearby contracts, with October down $4.70 on the week. Soy Oil futures were down another 54 to 60 points on the day, as October fell 164 points this week. 

Weekly CFTC data indicated managed money flipping back to a net long of 2,287 contracts as of September 16th. That was a move of 17,001 contracts to the long side during the course of that week. Commercials increased their net short position by 16,603 contracts to 119,674 contracts.

President Trump held a phone call with China’s President XI on Friday morning, as the two discussed trade. They are expected to meet at the APEC meeting in South Korea in late October, with President Trump looking to go to China in early 2026. Very little was mentioned on trade. The White House also reported that Taiwan agreed in commitments to buy $10 billion of US ag goods over the next 4 year, with USDA secretary Brooke Rollins citing corn, soybeans, wheat, and beef directly. The last 5 years has seen Taiwan purchases ranging from $3.2 to 4.2 billion, with the 4 products cited ranging from $1.6 to $2.5 billion.

Weekly Export Sales data has the 2025/26 soybean export commitments at 10.277 MMT, near the 18/19 accumulated sales total. That is 22% of the current USDA projection (which at 1.685 bbu is near the 1.682 bbu total from 2018/19), vs. the average sales pace of 43% by this date.

Nov 25 Soybeans  closed at $10.25 1/2, down 12 cents,

Nearby Cash  was $9.49 1/4, down 11 3/4 cents,

Jan 26 Soybeans  closed at $10.44 3/4, down 11 3/4 cents,

Mar 26 Soybeans  closed at $10.60 3/4, down 10 3/4 cents,