Soybeans are trading with contracts down just 1 to 2 cents early on Monday. There were 20 deliveries against the expiring September contract on Friday, with the monthly total at 1,034 contracts. The cmdtyView national average Cash Bean price is down 1 3/4 cents at $9.68 1/2. Soymeal futures are down $2.50 to $2.60, with Soy Oil futures showing 13 to 15 point gains. The CME reported another 3 September soybean meal deliveries issued on Friday, taking the month’s total to 245, with 161 reported for bean oil, which took the monthly total to 1,293 deliveries.
NOPA data from this morning showed a massive 189.81 mbu of soybeans crushed during August, more than 7 mbu above estimates. That was a 3.01% drop from July but still 20.13% larger than last year and 12.93% above the previous August record. Soybean oil stocks at the end of the month were 1.245 billion lbs, which was up 9.39% from last year but down 9.7% from July.
This morning’s Export Inspections report showed a total of 804,352 MT (29.55 mbu) of soybeans shipped in the week of 9/11. That was 72% above the week prior and 69.7% larger than same week last year. Italy was the largest buyer of 125,063 MT, with 110,294 MT shipped to Bangladesh and 88,234 MT to Mexico. The marketing year total is now at 1.068 MMT (39.249 mbu) shipped, with is 42.9% above the same short period last year.
The weekly Commitment of Traders report from CFTC indicated managed money flipping to a net short position of 14,714 contracts by Tuesday, a move of 26,678 contracts to the short side.
AgRural estimates the 2025/26 Brazil soybean crop at just 0.12% planted.
Nov 25 Soybeans are at $10.45 1/4, down 1 cents,
Nearby Cash is at $9.68 1/2, down 1 3/4 cents,
Jan 26 Soybeans are at $10.64 1/4, down 1 cents,
Mar 26 Soybeans are at $10.78 3/4, down 1 1/2 cents,
