Soybeans posted steady to 3 ½ cent lower trade to close the Monday session, led by the front month weakness. The cmdtyView national average Cash Bean price was 3 1/2 cents lower at $9.34 1/4. Soymeal futures were down 70 cents in nearby October, with other contracts 80 cents to $2.20/ton higher, with Soy Oil futures down 45 to 54 points. Losses in the crude oil market from a potential Israeli/Hamas ceasefire pressured bean oil.
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.
USDA tallied soybean export shipments at 593,956 MT (21.82 mbu) during the week ending on September 25. That was 5% above the same week last year but a drop of 13.1% from last week. Germany was the top destination of 128,961 MT, with 72,076 MT headed to Turkey, as China has yet to show up in the report. Despite that, marketing year exports for 2025/26 are now 2.246 MMT (82.53 mbu) since September 1, which is now 16.4% above the same period last year and the largest in the last 5 years.
Analysts are looking for NASS to show September 1 soybean stocks at 325 mbu in the Tuesday Grain Stocks report. Analysts surveyed by Bloomberg range from 295 to 366 mbu.
AgRural estimates the Brazilian soybean crop at 3.2% planted as of Thursday, ahead of the 2% from the same week last year.
Nov 25 Soybeans closed at $10.10 1/2, down 3 1/4 cents,
Nearby Cash was $9.34 1/4, down 3 1/2 cents,
Jan 26 Soybeans closed at $10.29 3/4, down 3 1/4 cents,
Mar 26 Soybeans closed at $10.45 1/2, down 3 1/2 cents,
