Soybean Futures Decline Tuesday Amid Harvest Delays and Export Activity

Soybeans settled fractionally lower at the Tuesday close, falling 5 ¼ cents. The cmdtyView national average cash bean price dropped 4 ¾ cents to $11.90 1/2. Soymeal futures fell $1.70 to $6.10, while soy oil futures rose 1 to 8 points in the front months.

The October average close for November soybeans is $12.78, a figure used to determine the harvest price option for crop insurance.

USDA reported a private export sale of 612,000 metric tons of soybeans to China for the 2026/27 marketing year.

Monday’s NASS Crop Progress report indicated that 64% of the U.S. soybean harvest is complete, one percentage point behind the normal pace. Harvest progress trailed in Iowa (-17%), Kansas (-12%), Michigan (-14%), Nebraska (-19%), and Ohio (-11%). The seven-day NOAA quantitative precipitation forecast calls for minimal rainfall across much of the Corn Belt, suggesting harvest should advance steadily over the coming week.

China’s Sinograin sold 297,472 metric tons of the 504,000 metric tons of imported soybeans offered in overnight auctions.

ANEC estimates Brazilian October soybean exports at 6.4 million metric tons, a 0.15 MMT reduction from its prior figure. If realized, this would mark a 13.03% decline from the same month last year.

Nov 26 Soybeans closed at $12.48 1/4, down 5 1/4 cents.

Nearby Cash was $11.90 1/2, down 4 3/4 cents.

Jan 27 Soybeans closed at $12.63 1/2, down 5 1/4 cents.

Mar 27 Soybeans closed at $12.73 1/4, down 4 1/2 cents.

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