Soybeans are down 9 to 10 cents in most contracts so far on Tuesday. The cmdtyView national average Cash Bean price is 10 cents lower at $9.24 1/2. Soymeal futures are down $1.60 to $2.00/ton, with Soy Oil futures down 29 to 39 points.
NASS tallied 316 mbu of soybeans on hand as of September 1 via their Grain Stocks report. That was 9 mbu shy of the average trade guess of 325 mbu, as well as 14 mbu lower compared to the WASDE ending stocks estimate from earlier this month. That was also a 26 mbu reduction from last year. Production from 2024/25 was raised by 8 mbu to 4.374 bbu.
Weekly Crop Progress data showed a 79% of the US soybean crop listed as dropping leaves, 2 points ahead of normal. Harvest was tallied at 19%, lagging the 20% average pace. Condition ratings were up 1% to 62% good/excellent, with the Brugler500 index improving 3 points to 361. Throughout the country, KS (-5), ND (-1), SD (-2), TN (-5), and WI (-2) were the only to see any deterioration. Improvement was noted in IL (+3), IN (+2), MI (+4), MN (+3), MO (+4), NE (1), and OH (+3).
Argentina soybean production is estimated to total 48.5 MMT for 2025/26 according to the Buenos Aires Grain Exchange, down 1.8 MMT from last year if realized.
Nov 25 Soybeans are at $10.01 1/4, down 9 1/4 cents,
Nearby Cash is at $9.24 1/2, down 10 cents,
Jan 26 Soybeans are at $10.20, down 9 3/4 cents,
Mar 26 Soybeans are at $10.35 1/4, down 10 1/4 cents,
