Soybeans Holding onto Losses at Midday
Soybeans continued to show weakness on Tuesday, with losses of 2 to 3 cents at midday. The cmdtyView national average Cash Bean price is 3 cents lower at $9.30 3/4. Soymeal futures are up 50 cents/ton, with Soy Oil up 7 to 12 points in the day. October futures expire on Tuesday.
Export Inspections data showed 994,008 MT (36.52 mbu) of soybeans shipped in the week that ended on October 9, which was an increase of 26.9% from the week prior but down 49.9% from the same week last year. China was still missing in the weekly data, as the seasonal movement is being suppressed. Mexico was the top destination of 195,947 MT, with 182,090 MT to Spain and 117,598 MT to Bangladesh. Marketing year shipments have totaled 4.04 MMT (148.45 mbu), a 26% drop yr/yr.
NOPA crush data is expected to be released on Wednesday, showing September crush.
Brazil’s soybean production for 2025/26 is seen at 177.64 MMT, a slight drop from the 177.67 MMT seen last month according to CONAB. Brazil’s October exports are estimated at 7.31 MMT according to ANEC, which is a 0.19 MMT increase from last week.
Nov 25 Soybeans are at $10.04 3/4, down 3 cents,
Nearby Cash is at $9.30 3/4, down 3 cents,
Jan 26 Soybeans are at $10.22 3/4, down 2 1/2 cents,
Mar 26 Soybeans are at $10.38, down 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.