Soy futures managed money positions in soy futures

Managed money positions in soy futures have swung net long for the first time in eight weeks, reflecting renewed optimism over export flows and weather-related yield risks. Continued lack of export business as we head into the busiest part of the soybean export season is putting extended pressure on the market. China’s move toward South American soybeans has been a drag on US futures, forcing exporters to rethink their strategies. With harvest season kicking off and the weather throwing in some extra uncertainty, market swings could get even bumpier. Luckily, solid domestic processing and strong demand from other global buyers are cushioning some of the blow, suggesting that volatility is here to stay for a while yet. The soy futures market is showing signs of short-covering as net speculative positions shift towards bullish territory. Traders are monitoring WASDE updates closely, with yield reductions likely impacting Q3 pricing.