Soybeans are 10 to 11 cents higher in the front months on Tuesday, following meal gains. The cmdtyView national average Cash Bean price is up 10 3/4 cents at $12.56 1/4. Soymeal futures are up rallying $8.10 to $7.50, with Soy Oil 12 to 20 points higher across the front months.
Monday’s Crop Progress report from NASS showed 44% of the US soybean crop dropping leaves as of Sunday. Harvest was listed at 6% complete, ahead of the 3% average pace. Condition ratings were steady at 58% gd/ex, with the Brugler500 index unchanged at 353.
Harvest may be hampered in the near term, as eastern NE and SD through MN, IA, northern MO and the rest of the Eastern Corn Belt looking at more than 1-3 inches of rain.
NOPA data was released this morning, with a total of 205.46 mbu of soybeans crushed among members in August, falling well shy of the 211.55 mbu estimate. That was 8.24% above last year but 5.17% below the same week last year. Soybean oil stocks were tallied at 1.201 billion lbs, which was a 3.5% decline from last year.
Brazil’s soybean crop was pegged at 180.4 MMT in the latest CONAB estimate this morning, down just 0.06 MMT from last month. Their first 2026/27 crop estimate was at 181.64 MMT. The USDA projection is at 186 MMT for 26/27.
Nov 26 Soybeans are at $13.14 3/4, up 10 1/2 cents,
Nearby Cash is at $12.56 1/4, up 10 3/4 cents,
Jan 27 Soybeans are at $13.31 1/4, up 11 cents,
Mar 27 Soybeans are at $13.39, up 11 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.