# Wkly Futures Mkt Summary July 15.24 - ADM Investor Services

> Soybean futures fell after the July USDA report, which was slightly friendlier than expected but still showed weak longer-term supply tightness. CFTC data showed funds at a record net short in soybeans, and US export demand for soybean meal has been poor.

- Date: 2024-07-15 · published 2024-07-15T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/7098-wkly-futures-mkt-summary-july-15-24-adm-investor-services
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Heavy fund shorts and weak export demand point to continued pressure on soybean and meal prices, though a record short position raises the risk of sharp short-covering rallies.

## Read by commodity

- SBM: bearish ▼
- SBO: neutral
- SOY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2024-07-15 | 5 | -7.8% | -2.9 | Weekly summary attributes the soybean decline to record fund net shorts and poor US soybean meal export demand, matching the mechanisms behind the meal drop. |

## Sources

- admis.com: https://www.admis.com/wkly-futures-mkt-summary-july-15-24/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.