Soybeans Fall Lower on Wednesday
Soybeans saw lower trade on Wednesday with contracts down 9 to 10 cents in the nearbys. There were 586 deliveries issued against September beans. The cmdtyView national average Cash Bean price was down 9 3/4 cents at $9.54 1/4. Soymeal futures were up 40 cents in September but down $1.40 across other contracts.. Soy Oil futures were 69 to 82 points lower. There were no deliveries against September meal overnight, with 385 issued for September bean oil.
USDA reported a private export sale of 185,000 MT of soybean meal to the Philippines this morning for 2025/26.
Weekly Crop Progress data showed condition ratings down 4% to 65% on the week. The Brugler500 ratings fell 8 points to 366, which is now just 1 point above the same week last year. Most states saw a drop in ratings, with IL down 19 points, OH dropping 14, MO and NE 10 points lower and IA and IN down 3. Some improvement was noted in ND (+3), MN (+2), and SD (+1).
US soybean yield is estimated to total 53.28 bushel per acre according to an Allendale survey of producers, with production totaling 4.268 billion bushels.
Sep 25 Soybeans closed at $10.16, down 9 3/4 cents,
Nearby Cash was $9.54 1/4, down 9 3/4 cents,
Nov 25 Soybeans closed at $10.31 1/2, down 9 1/2 cents,
Jan 26 Soybeans closed at $10.50, down 9 1/2 cents,
New Crop Cash was $9.54 1/4, down 9 3/4 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.