Soybean Futures Dip Despite Major Export Announcements

Soybeans declined 1 to 3 cents at midday on Friday, with September options expiring today. The cmdtyView national average cash bean price fell 3/4 cent to $11.98 3/4. Soymeal futures rose $1 to $1.20 while soy oil dropped 217 to 220 points.

USDA announced sales of 712,000 MT of 2026/27 soybeans to China this morning, along with 720,000 MT sold to unknown destinations.

The ProFarmer Crop Tour reported Iowa soybean pod counts in a 3′ by 3′ area averaged 1,362.93 pods, down 1.55% from last year but 5.19% above the three-year average. Minnesota pod counts reached 1,257.8, up 0.89% year-over-year and 15.4% above the three-year average.

Export sales data from Thursday showed 2025/26 soybean sales at 39.992 MMT, down 18% from the prior year. This represents 97% of the USDA export projection and matches recent seasonal sales patterns. New crop commitments stand at 11.85 MMT, double the previous year and the highest in four years.

China’s Sinograin will auction 290,000 MT of imported soybeans next Wednesday.

September 26 soybeans were at $12.19 3/4, down 1 cent,

Nearby cash was at $11.98 3/4, down 3/4 cent,

November 26 soybeans were at $12.34 1/2, down 2 cents,

January 27 soybeans were at $12.49 1/4, down 2 1/4 cents,

New crop cash was at $11.78 3/4, down 1 1/2 cents,

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