Soybean Futures Rally Midday as Export Demand and Speculative Strength Drive Prices Higher

Soybean futures rallied on Monday, with front-month contracts trading 8 to 10 cents higher. The cmdtyView national average Cash Bean price climbed 8.5 cents to settle at $12.46. Meanwhile, soymeal futures advanced by $3.50 to $3.80 at midday, while soybean oil fell 45 to 55 points across the board. Delivery activity remained light, with just one delivery issued against September soybeans, one for soybean meal, and two against September bean oil, which expire today.

According to USDA’s FGIS, soybean export shipments totaled 672,750 metric tons (24.72 million bushels) during the week ending September 10. This marked a 44.8% increase from the prior week, though it remained 18.2% below the same week last year. China led demand with 328,245 metric tons, followed by Indonesia at 74,200 metric tons and Japan at 65,070 metric tons. Total marketing year shipments reached 914,826 metric tons (33.61 million bushels) for the first half of the marketing year, trailing the previous year’s pace by 15.8%.

Commitment of Traders (COT) data showed that managed money spec funds added 24,848 contracts to their net long position in soybean futures and options, reaching a record net long of 266,031 contracts on Tuesday. Traders are now looking ahead to the NOPA data release on Tuesday, which is expected to show member crush of 211.55 million bushels and soybean oil stocks of 1.257 billion pounds.

In other industry news, CHS announced plans to build a new 80-million bushel per year soybean crush facility in Evansville, Wisconsin, with a target completion date of fall 2028. Additionally, AgRural estimates Brazil’s 2026/27 soybean crop planting progress at 0.4% as of Thursday.

At midday, November 2026 soybeans were trading at $13.05, up 8.5 cents, while nearby cash beans stood at $12.46, also up 8.5 cents. January 2027 soybeans were at $13.2075, up 8.75 cents, and March 2027 contracts were at $13.2825, up 9.5 cents.

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