Soybeans are showing losses of 6 to 8 cents, as meal spillover weakness is taking over the continued export business. The cmdtyView national average Cash Bean price is down 7 1/4 cents at $11.87. Soymeal futures are down $5.40 to $6.20, as Soy Oil futures are up 25 to 28 points at midday.
The average close for November soybeans in October has been $12.78, as the October is used to determine the harvest price option for crop insurance.
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USDA reported a private export sale of 612,000 MT of soybeans to China this morning, all for 2026/27.
Late on Monday, the White House announced a Harvest Fuel Relief Program, providing producers with $8 billion in assistance due to high fuel prices.
The NASS Crop Progress report from Monday indicated 64% of the US soybean harvest was complete, now 1 percentage points behind normal and catching up.
China’s Sinograin sold 297,472 MT of the 504,000 MT of imported soybeans auctioned off overnight.
Nov 26 Soybeans are at $12.46 1/4, down 7 1/4 cents,
Nearby Cash is at $11.87, down 7 1/4 cents,
Jan 27 Soybeans are at $12.61 3/4, down 7 cents,
Mar 27 Soybeans are at $12.71 3/4, down 6 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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