Soybeans Fade Lower into Thursday’s Close
Soybeans closed the Thursday session mixed, with contracts down 1 ½ to 2 ½ cents lower across the board. The cmdtyView national average Cash Bean price was up 3/4 cents at $11.99 3/4. Soymeal futures were back down 70 cents to $3.20, as Soy Oil posted 48 to 141 point gains.
USDA reported a total of 150,000 MT of 2026/27 soybeans to unknown destinations this morning.
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The ProFarmer Crop Tour showed Illinois pod counts in a 3’x3’ square averaging 1,430.37, 3.3% below last year but up 2.93% from the 3 year average. Results for Iowa and Minnesota will be announced later this evening.
Export Sales data from this morning showed old crop bean sales of 85,016 MT in the week of 8/13. That was a 3-week high. The Netherlands was the buyer of 86,300 MT, (with 80,000 MT switched from unknown), as Indonesia purchased 45,100 MT. New crop business was tallied at 1.723 MMT. That was 52.07% above the same week last year but back down 2.09% from the week prior. China was the buyer of 1.131 MMT, with 222,000 MT sold to unknown destinations.
Soybean meal sales were tallied at 478,786 MT, which was on the high end of the estimated 150,000 to 500,000 MT, with 385,994 MT for 2026/27. Bean oil sales totaled 1,225 MT, which was between net reductions of 10,000 MT and sales of 10,000 MT.
Sep 26 Soybeans closed at $12.20 3/4, down 1 1/2 cents,
Nearby Cash was $11.99 3/4, up 3/4 cent,
Nov 26 Soybeans closed at $12.36 1/2, down 3/4 cent,
Jan 27 Soybeans closed at $12.51 1/2, up 1/4 cent,
New Crop Cash was $11.79 1/4, down 3/4 cent,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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