Soybeans Leaking Lower Early on Wednesday

Soybeans are down 1 to 2 cents so far on Wednesday morning. Futures eased off the Tuesday lows, but still closed with 6 to 8 cent losses. The cmdtyView national average Cash Bean price was down 7 3/4 cents at $9.67. Soymeal futures closed with gains of 60 cents to $7.00, with Soy Oil futures back down 98 to 159 points on the day.

USDA reported a private export sale of 228,606 MT of soybeans to Mexico on Tuesday morning, all for 2025/26.

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The second day of the ProFarmer Crop Tour finished off data in Nebraska, with soybean pod counts averaging 1,348.31, which was 15% above last year and 19.1% larger than the 3-year average. Pod counts in Indiana were down 2.31% from a year ago at 1,376.59, which was also 6.3% above the 3-year average.

Crop Progress data from NASS Monday afternoon showed conditions steady at 68% gd/ex, though the Brugler500 index was down another point to 373. Ratings in IL were up 8 points, with IA, MI and the Dakotas improving 2, and NE up 3 points. Some deterioration was noted in fringe states, with the Southeastern states dropping, and OH down 2 points.

ANEC estimates the Brazilian soybean export total at 8.9 MMT for August, which is above the 8.8 MMT total from last week’s numbers.

Sep 25 Soybeans  closed at $10.13, down 7 3/4 cents, currently down 1 1/2 cents

Nearby Cash  was $9.67 1/1, down 7 3/4 cents,

Nov 25 Soybeans  closed at $10.33 3/4, down 7 1/2 cents, currently down 1 cent

Jan 26 Soybeans  closed at $10.53 1/4, down 6 3/4 cents, currently down 1 cent

New Crop Cash  was $9.58 1/1, down 7 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. This article was originally published on Barchart.com

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