Soybean futures closed lower on Friday, March 22, 2026, extending weekly losses as pressure from soymeal and lackluster export data weighed on the market.
Market Close Details
Contracts fell between 5 and 11 ¼ cents across the board at the Chicago Board of Trade. The front-month May 2026 contract settled at $11.61 1/4, down 7 1/4 cents for the session. For the week, the May contract lost 64 cents. The national average cash price for soybeans, as tracked by cmdtyView, declined 7 cents to $10.87 1/2.
Pressure originated in the soymeal complex, where futures dropped $2.80 to $4.50. Despite the daily decline, the May soymeal contract remained up $5.30 for the week. Soy oil futures presented a mixed picture, with nearby months steady to 10 points higher while deferred contracts weakened. The May soy oil contract fell 193 points over the five-day period.
Speculative Positioning Shifts
Latest Commitment of Traders data from the Commodity Futures Trading Commission revealed a shift in speculative sentiment. In the week ending March 17, managed money speculators reduced their net long position in soybean futures by 20,110 contracts. This liquidation brought their overall net long stance to 201,997 contracts.
Conversely, speculators increased their bullish bet on soybean oil. Managed money added 13,518 contracts to their net long position in bean oil futures and options, bringing it to 122,356 contracts. This move brought them close to a previous record net long position held in the commodity.
Export Sales Lag Behind Pace
Weekly U.S. Department of Agriculture export sales data continued to show a slower pace compared to historical averages. As of March 12, total soybean export commitments for the 2025/26 marketing year stood at 36.79 million metric tons (MMT). This figure represents an 86% completion rate of the USDA’s current annual estimate but lags behind the average sales pace of 94% for this point in the season.
Actual shipments reached 28.055 MMT, accounting for 65% of the USDA’s projected total. The typical pace for shipments by this date is 81%. Current export commitments are down 19% from the same period last year, according to the USDA report.
Closing Price Summary
The July 2026 soybean contract closed at $11.76 1/2, down 6 3/4 cents. The new-crop November 2026 contract settled at $11.41, down 5 1/4 cents. The new-crop cash price was quoted at $10.79 1/1, also down 5 1/4 cents.
Market participants now await the USDA’s next World Agricultural Supply and Demand Estimates (WASDE) report for updated global balance sheets. Analysts will scrutinize South American production forecasts and Chinese demand signals for future price direction. For real-time commodity data, traders often reference the CFTC’s Commitments of Traders reports.
This article was produced with AI assistance and reviewed by our editorial team for accuracy and quality.
