Soybeans are trading 10 to 11 cents higher in the front months on Tuesday, buoyed by gains in soymeal. According to cmdtyView, the national average cash bean price increased by 10 3/4 cents to $12.56 1/4. Soymeal futures surged between $7.50 and $8.10, while soybean oil moved 12 to 20 points higher across the front months.
The USDA’s Crop Progress report for Monday indicated that 44% of the U.S. soybean crop had dropped leaves as of Sunday. Harvest stood at 6% completion, outpacing the five-year average of 3%. Condition ratings remained steady at 58% good to excellent, with the Brugler500 index unchanged at 353.
Near-term harvest operations may face delays, as eastern Nebraska and South Dakota, along with Minnesota, Iowa, northern Missouri, and the rest of the Eastern Corn Belt, are expecting over 1 to 3 inches of rainfall.
The National Oilseed Processors Association (NOPA) reported that its members crushed a total of 205.46 million bushels of soybeans in August. This figure fell significantly short of the 211.55 million bushel estimate, though it was 8.24% above the previous year and 5.17% below the same period last week. Soybean oil stocks were reported at 1.201 billion pounds, marking a 3.5% decline year-over-year.
Brazil’s soybean production was estimated at 180.4 million metric tons in the latest CONAB report, a slight decrease of 0.06 million metric tons from the previous month. The country’s initial 2026/27 crop estimate was placed at 181.64 million metric tons, while the USDA projection for the same period stands at 186 million metric tons.
Nov 26 Soybeans are at $13.14 3/4, up 10 1/2 cents.
Nearby Cash is at $12.56 1/4, up 10 3/4 cents.
Jan 27 Soybeans are at $13.31 1/4, up 11 cents.
Mar 27 Soybeans are at $13.39, up 11 cents.
