The soybean market is trading with contracts up 1 to 2 cents in the nearbys on Monday morning. Soybeans held onto gains into the Friday close, with contracts climbing another 3 to 6 cents. Jul was up 15 ½ cents on the week, as November gained back 10 ¼ cents. Preliminary open interest was down 6,772 contracts on Friday, with July dropping 14,543 contracts. The cmdtyView Cash Bean price was up 5 1/2 cents to $10.12 1/2. Soymeal futures were down $1.20 to $1.30/ton, as Soy Oil was up 75 to 78 points in the nearbys. 

US Treasury Secretary Bessent, USTR Greer, and Commerce Secretary Lutnick will meet with Chinese Country parts on Monday in London for trade talks President Trump announced on Friday afternoon.

CFTC's Commitment of Traders report from Friday afternoon showed money managers in soybean futures and options cutting back 28,096 contracts from their net long position to just 8,601 contracts as of Tuesday. Commercials parred their net short position back by 32,487 contracts to 143,487 contracts. 

Chinese soybean imports totaled 13.92 MMT in May, which was more than double the April total and above the 10.22 MMT from May 2024.

Export Sales data indicated a total of 48.65 MMT of 2024/25 soybeans have been booked by exporters as of May 29. That is 97% of the USDA forecast total and behind the 99% average.  Actual exports are 44.666 MMT, which matches the pace needed to get USDA’s number at 89%.

Jul 25 Soybeans  closed at $10.57 1/4, up 5 1/2 cents, currently up 1 1/2 cents

Nearby Cash  was $10.12 1/2, up 5 1/2 cents,

Aug 25 Soybeans  closed at $10.50 3/4, up 4 1/4 cents, currently up 1 cent

Nov 25 Soybeans  closed at $10.37, up 3 3/4 cents, currently up 1 cent

New Crop Cash  was $9.78 1/4, up 3 3/4 cents,