Soybeans rose 10 to 11 cents in front months on Tuesday, supported by gains in soymeal. The cmdtyView national average Cash Bean price increased 14½ cents to $12.60. Soymeal futures climbed $6.30 to $9.90, while soy oil was 9 to 23 points higher in front months and 2 to 28 points lower in deferred contracts.
Harvest activity may be disrupted in the near term, as heavy rainfall—exceeding 1 to 3 inches—is expected across parts of the Eastern Corn Belt, including eastern Nebraska and South Dakota through Minnesota, Iowa, and northern Missouri.
NOPA data released this morning showed soybeans crushed among members totaled 205.46 million bushels in August, falling short of the 211.55 million bushel estimate. Despite this miss, the figure was 8.24% above last year, though 5.17% below the same period last year. Soybean oil stocks were reported at 1.201 billion pounds, representing a 3.5% decline from the previous year.
Brazil’s soybean crop was estimated at 180.4 million metric tons in the latest CONAB report, showing minimal change from the prior month. Their initial forecast for the 2026/27 crop stands at 181.64 MMT, compared to the USDA’s projection of 186 MMT for the same period.
November 26 Soybeans closed at $13.18¾, up 14½ cents.
Nearby Cash closed at $12.60, up 14½ cents.
January 27 Soybeans closed at $13.35¼, up 15 cents.
March 27 Soybeans closed at $13.43, up 15 cents.