Soybean futures are posting double digit losses across the front months on Friday, with most contracts down 14 to 16 cents. Soymeal futures are up $1/ton. Soy Oil futures are back down 134 points on the day. There were 65 deliveries issued against September soybeans overnight. There were 0 deliveries issued for soybean meal, with 100 deliveries for soybean oil. 

Delayed weekly USDA Export Sales data showed net reductions of 227,961 MT in 2023/24 for the week of August 29. That was below the expected net cancellation of 200,000 MT to net sales of 200,000 MT, but normal for late in the marketing year. New crop sales were tallied at 1.66 MMT, on the higher end of the 0.8 to 2 MMT in estimates. China was the lead buyer of 1.002 MMT, with unknown in for 474,200 MT. 

Meal sales totaled 40,897 MT for the 2023/24 marketing year, with 434,708 MT sold for 2024/25 in the week of August 29. The total of 475,605 MT was the largest since the end of June. Bean oil sales totaled 1,922 MT in that week for 2023/24 shipment, with 3,298 MT for 2024/25 MT.

Soybean exports out of Brazil in July totaled 8.04 MMT, a 6-month low and down 4.12% from last year.

Sep 24 Soybeans  are at $10.02 1/4, down 6 cents,

Nearby Cash  is at $9.46 7/8, down 14 3/4 cents,

Nov 24 Soybeans  are at $10.08 1/2, down 15 cents,

Mar 25 Soybeans  are at $10.40 1/4, down 15 1/4 cents,

New Crop Cash  is at $9.46 7/8, down 14 3/4 cents,