Soybeans Posting Midday Weakness

Soybeans are trading with 3 to 4 cent losses at the midday portion of the Monday session. The cmdtyView national average Cash Bean price is 3 1/4 cents lower at $9.35 3/4. Soymeal futures are 80 cents to $1.80/ton higher, with Soy Oil futures down 45 points on losses in the crude oil market.

USDA tallied soybean export shipments at 593,956 MT (21.82 mbu) during the week ending on September 25. That was 5% above the same week last year but a drop of 13.1% from last week. Germany was the top destination of 128,961 MT, with 72,076 MT headed to Turkey, as China has yet to show up in the report. Despite that, marketing year exports for 2025/26 are now 2.246 MMT (82.53 mbu) since September 1, which is now 16.4% above the same period last year and the largest in the last 5 years.

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Weekly CFTC data showed the spec fund crowd in soybean futures and options flipping back to a net short position of 29,302 contracts as of Tuesday, a move of 31,589 contracts to the short side during that week. Commercials trimmed back their net short position by 27,234 contracts to 92,440 contracts, as commercial longs increased their ownership. Managed money also held a net short position of 898 contracts in soybean oil futures and options, with their net short in soybean meal increasing to 103,269 contracts as of Tuesday. That was the first time all three in the soy complex have been net short since March.

Analysts are looking for NASS to show September 1 soybean stocks at 325 mbu in the Tuesday Grain Stocks report. Analysts surveyed by Bloomberg range from 295 to 366 mbu.

AgRural estimates the Brazilian soybean crop at 3.2% planted as of Thursday, ahead of the 2% from the same week last year.

Nov 25 Soybeans  are at $10.10 3/4, down 3 cents,

Nearby Cash  is at $9.35 3/4, down 3 1/4 cents,

Jan 26 Soybeans  are at $10.29 3/4, down 3 1/4 cents,

Mar 26 Soybeans  are at $10.46, down 3 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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