Soybeans are trading with early Tuesday 6 to 7 cent gains Futures saw gains of 12 to 23 ½ cents across the board on Monday. Open interest was down 820 contracts, with November dropping 5,913 contracts, suggesting some short covering. The cmdtyView national average Cash Bean price was up 24 1/4 cents at $11.75 1/4. Soymeal futures closed with contracts $1.10 to $2.40 higher, as Soy Oil rallied 130 to 202 points.
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.
Weekly Crop Progress data from NASS showed 96% of the US soybean crop blooming by 8/16, with 85% setting pods and 5 percentage points faster than the 5-year average. Condition ratings were down 1% at 61% gd/ex, with the Brugler500 index unchanged at 361.
USDA’s FGIS tallied soybean export shipments at 270,201 MT (9.93 mbu) during the week ending on August 13. That was 34% below the week prior and 46.3% shy of the same week last year. Japan was the top destination of 76,179 MT, with 57,710 MT headed to Egypt and 52,390 MT to Mexico. Marketing year exports for 2025/26 are 40.04 MMT (1.47 bbu), which is now 18.2% below the same period last year.
NOPA data from Monday showed 216.65 million bushels crushed during July, which was shy of the estimated 221.5 mbu. That was still a record for the month, 10.7% above last year and 1.08% larger than in June. Soybean oil stocks were tallied at 1.36 million lbs, below estimates, a 9.39% decline from June and 1.35% below last year.
Sep 26 Soybeans closed at $12.01, up 23 1/4 cents, currently up 6 1/2 cents
Nearby Cash was $11.75 1/4, up 24 1/4 cents,
Nov 26 Soybeans closed at $12.16, up 23 1/2 cents, currently up 6 3/4 cents
Jan 27 Soybeans closed at $12.31, up 23 1/4 cents, currently up 7 cents
New Crop Cash was $11.58 1/4, up 23 1/2 cents,
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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