Soybeans are trading with contracts down 5 to 6 cents in the nearbys. Futures faded the early/overnight gains and Chinese business on Wednesday, with contracts down 6 ½ to 8 ¾ cents at the close. Open interest was down 5,941 contracts on Wednesday, with most rolling out of November, down 10,268 contracts. The cmdtyView national average Cash Bean price was down 6 1/4 cents at $12.18 1/2. Soymeal futures were steady to $1.30 higher at the close, with Soy Oil futures down 62 to 99 points. October futures expired today. EPA released on Tuesday they would reallocate 100% or he 1.756 billion RINs of small refinery exemptions from 2025, but is still uncertain of if it would be in 2026 and 2027, or all in the latter.
USDA confirmed private export sales of 470,000 MT of soybeans to China on Wednesday morning, all for 2026/27.
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NOPA data will be released on this morning, as traders surveyed by Reuters are looking for 203.74 mbu of soybeans crushed among members in September.
The NASS Crop Progress report from Tuesday indicated 46% of the US soybean harvest was complete, now 4 percentage points behind normal. Harvest pace continued to lag in IA (-18% behind), KS (-10%), MI (-11%), MN (-7%), NE (-29%), OH (-10%), ad SD (-12%).
Rains fell in parts of the NE, KS, SD, as, wells a parts of the ECB overnight, putting a pause on some harvest. More rain is expected in those areas today. The 7-day forecast past Friday does look a little drier.
China’s Sinograin is set to auction off another 504,000 MT of imported soybeans on October 20, following the 209,904 MT sold this week. Chinese soybean imports totaled 11.88 MMT in September, down from the 12.14 MMT number from August.
CONAB estimates the 2026/27 Brazilian soybean crop at 181.6 MMT, up just 0.7% from a year ago.
Nov 26 Soybeans closed at $12.77 1/4, down 6 1/2 cents, currently down 5 3/4 cents
Nearby Cash was $12.18 1/2, down 6 1/4 cents,
Jan 27 Soybeans closed at $12.92, down 8 cents, currently down 5 3/4 cents
Mar 27 Soybeans closed at $13.00, down 8 1/2 cents, currently down 5 1/2 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.
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