Highlights;
- Soybeans are trading lower, with September contracts down 8-9 cents and deliveries issued at 586.
- Soymeal futures are mixed, while soy oil futures are down 50-63 points.
- USDA reported a private export sale of 185,000 MT of soybean meal to the Philippines.
- Soybean crop progress shows 94% setting pods, with condition ratings down 4% to 65%.
- Soybean crush in July was 204.73 mbu, up 3.98% from June.
Soybeans are experiencing another round of losses at midday, with contracts down 8 to 9 cents. A total of 586 deliveries were issued against September beans. The cmdtyView national average Cash Bean price has dropped 8 3/4 cents to $9.55 1/4. Meanwhile, soymeal futures are down by up to 60 cents, and soy oil futures are lower by 50 to 63 points. No deliveries were issued for September meal overnight, though 385 deliveries were recorded for September bean oil.
The USDA reported a private export sale of 185,000 MT of soybean meal to the Philippines for the 2025/26 marketing year.
Weekly Crop Progress data shows that 94% of the U.S. soybean crop is setting pods, matching the average, while 11% are dropping leaves, 1 point above normal. Condition ratings have declined by 4% to 65%, and the Brugler500 ratings fell 8 points to 366, now just 1 point above last year’s figure.
According to the NASS Fats & Oils report, 204.73 million bushels of soybeans were crushed in July, slightly below expectations but 3.98% higher than June and 5.94% above last year. The marketing year total from September to June stands at 2.246 billion bushels, up 6.09% from last year. Bean oil stocks decreased 1.07% from the end of June to 1.873 billion pounds as of July 31.
Current prices:
- September 25 Soybeans: $10.17 1/4, down 8 1/2 cents.
- Nearby Cash: $9.55 1/4, down 8 3/4 cents.
- November 25 Soybeans: $10.32 1/2, down 8 1/2 cents.
- January 26 Soybeans: $10.51, down 8 1/2 cents.
As of the publication date, Austin Schroeder did not hold any positions in the securities mentioned in this article. The information provided is for informational purposes only.
For more news from Barchart, visit our website.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
Source: https://www.nasdaq.com/articles/soybean-weakness-continues-wednesday
