April 18, 2026 — Soybean futures closed with modest gains on Friday, ending a week marked by shifting trader sentiment and ongoing scrutiny of export demand. The market absorbed fresh data on fund positioning and weekly sales.
Friday’s Price Action
According to settlement data from Barchart, most soybean contracts finished 0.5 to 4.75 cents higher. The May 2026 contract settled at $11.67 1/4, up 3.5 cents. The July contract added 2.5 cents to close at $11.83. New-crop November soybeans gained half a cent, ending at $11.56 1/2.
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The national average cash price for soybeans was reported at $11.02, up 4 cents. Soymeal futures closed mixed, ranging from 90 cents lower to $3.00 higher. Soy oil futures were weaker, falling 20 to 117 points. The front-month May contract, however, still managed a weekly gain of 107 points.
Money Managers Adjust Positions
Data from the Commodity Futures Trading Commission (CFTC) revealed a notable shift in speculative positioning. In the week ending April 14, managed money traders reduced their net long position in soybean futures and options by 14,479 contracts. This reduction was driven primarily by long positions being closed.
Also read: Soybeans Gain on Friday as Traders Trim Long Bets
The move lowered the overall net long position to 175,151 contracts. This suggests some large traders are taking profits or reducing risk exposure amid current price levels.
Speculative activity diverged in the soybean complex. In soymeal, money managers aggressively increased their net long position by 42,203 contracts, bringing it to 135,743 contracts. For bean oil, the record net long position was trimmed slightly by 2,362 contracts to 148,320 contracts.
Export Pace Remains a Focus
Weekly export sales data, released on Thursday, continues to draw attention. The latest figures show total soybean export commitments at 38.15 million metric tons (MMT). That figure is 18% below the level seen at the same time last year.
Commitments have reached 91% of the U.S. Department of Agriculture’s (USDA) full-year forecast. This lags behind the five-year average pace of 96% for this point in the marketing year. Actual exports shipped total 31.33 MMT, representing 75% of the USDA’s projection. While this also trails the 85% average pace, the report noted shipment activity has recently picked up.
The slower export pace compared to historical averages has been a persistent topic for traders. It tempers bullish sentiment even as other factors, like South American weather, provide support.
Broader Market Influences
Soy oil faced pressure from a sharp drop in crude oil prices. Crude fell $9.12 per barrel on Friday. The decline followed news that Iran agreed to open the Strait of Hormuz, easing immediate supply concerns. Since soy oil is used in biodiesel production, its price often correlates with energy markets.
What this means for investors is a complex picture. Soybeans are finding footing, but not racing higher. The CFTC data shows professional money is cautious on beans themselves but bullish on the meal byproduct. The export story is improving but still lags. This could signal a market in search of a clearer catalyst, likely from upcoming planting reports or shifts in global demand.
Looking Ahead
Market participants will now turn their focus to U.S. planting progress as the season gets underway. Weather patterns in key growing regions will be watched closely. Any further updates on Chinese buying or adjustments to South American production estimates will also drive price action.
For real-time commodity analysis, traders can monitor data from sources like the CFTC’s Commitments of Traders reports and the USDA’s weekly export sales system. The USDA’s World Agricultural Supply and Demand Estimates (WASDE) report remains a primary benchmark for global balance sheets.
This article was produced with AI assistance and reviewed by our editorial team for accuracy and quality.
