Soybeans Slips off Highs into Tuesday’s Close
Soybeans fell from the intraday highs on Tuesday, with contracts closing fractionally to 6 cents higher, as September was down ¼ cent. The cmdtyView national average Cash Bean price was up 1 cent at $11.76. Soymeal futures held firm into the close, with contracts up a dime to $3, as Soy Oil was back down 77 to 175 points.
USDA reported a private export sale of 136,000 MT of soybeans to China this morning for 2026/27.
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The ProFarmer Crop Tour started on Monday, with South Dakota pod counts in a 3’x3’ square averaging 945.98, 20.4% below last year and 12.07% the 3 year average. Ohio pod counts came in at 1,197.25 bpa, down 6.99% from a year ago and a 4.74% decline from the three year average. Results for Indiana and Nebraska will be announced later this evening.
Weekly Crop Progress data from NASS condition ratings were down 1% at 61% gd/ex, with the Brugler500 index unchanged at 361. There was deterioration noted (via the Brugler500 index) in SD (-13), MN (-8), IN (-6), MO (-3), as well as KS, LA, MI, MS, NC, TN, and WI. There was some modest improvement in IA (+2), NE (+4), ND (+9), and OH (+3).
Brazilian soybean exports are estimated at 10.56 MMT according to ANEC, which is down 0.32 MMT from the previous week.
Sep 26 Soybeans closed at $12.00 3/4, down 1/4 cent,
Nearby Cash was $11.76 1/2, up 1 cents,
Nov 26 Soybeans closed at $12.16 3/4, up 3/4 cent,
Jan 27 Soybeans closed at $12.31 1/2, up 1/2 cent,
New Crop Cash was $11.59, up 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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