Soybean futures are trading firmly higher Friday, with contracts gaining 10 to 11 cents on the session by midday across the board.
The cmdtyView national average Cash Bean price climbed 10 and a quarter cents to reach $12.14 and a quarter during Friday’s midday trading period.
Soymeal futures posted gains of $2.20 to $2.50 on the session, while Soy Oil futures moved in the opposite direction, falling 92 to 115 points by midday.
Weather conditions are playing a central role in Friday’s price strength, with NOAA’s 7-day QPF showing less than 0.5 inches of precipitation across much of the main soybean growing regions over the coming week.
Missouri stands as the notable exception, with at least an inch of rainfall expected, while eastern Ohio is forecast to receive between 1 and 2 inches during the same period.
The 8-to-14-day outlook adds further concern for key growing states, pointing to a drier pattern through the first week of August for much of the Dakotas, Iowa, Minnesota, and Wisconsin.
On the export front, USDA Weekly Export Sales data shows old crop export business has accumulated to 41.38 million metric tons, representing exactly 100% of the USDA’s full-year export projection.
That pace trails the 101% level recorded at the same point over the prior three years, suggesting demand is running slightly below recent historical norms at this stage of the marketing year.
New crop accumulated sales have reached 6.136 million metric tons, a figure that stands 135.5% above the comparable week from the previous year, signaling robust forward demand for the upcoming harvest.
August 2026 soybeans settled at $12.48 and a quarter per bushel, up 10 and three-quarter cents, while November 2026 soybeans moved to $12.54 and a half, also up 10 and three-quarter cents on the day.
September 2026 soybeans traded at $12.41 and a half, gaining 10 and a half cents, as new crop cash prices reached $11.96 and three-quarter cents, up 11 and a quarter cents on the session.
The combination of tightening weather forecasts across key Midwestern growing states and strong new crop export demand is providing meaningful upside momentum to the soybean complex heading into the weekend.
