Soybeans posted 3 to 8 ¾ cent losses across the board on Monday following slightly higher trade at midday. CmdtyView’s national front month Cash Bean price was down 9 3/4 cents at $9.95 ¾. Soymeal was mixed on the day, with October up 60 cents/ton and other contracts down $2.30 to $5. Soy Oil futures were up 24 to 133 points on the day.
USDA reported a private export sale of 116,000 MT of soybeans for 2024/25 to China this morning.
The quarterly Grain Stocks report from NASS tallied September 1 soybean stocks across the US at 342 mbu. That was down 9 mbu from the Reuters survey of analysts and came in just 2 mbu above the September WASDE. It was still 78 mbu above the same period last year, which was expected.
Crop Progress data showed the US soybean crop was 81% dropping leaves, as harvest was 26% complete, both 8 percentage points faster than average. Condition ratings were unchanged at 64% gd/ex, with the Brugler500 index steady at 362.
Export Inspections data from USDA showed 675,749 MT (24.8 mbu) of US soybean shipments in the week that ended on September 26. That was down 0.3% from the same week last year and up 33.4% above the previous week. That took the accumulated shipments to 1.922 MMT (70.62 mbu), which lags last year by 3.4%.
AgRural estimates the Brazilian soybean crop at just 2% planted as of Thursday, back of the 5.2% from the same time last year.
Nov 24 Soybeans closed at $10.57, down 8 3/4 cents,
Nearby Cash was $9.95 3/4, down 9 1/4 cents,
Jan 25 Soybeans closed at $10.75 1/4, down 7 3/4 cents,
May 25 Soybeans closed at $11.01 1/2, down 5 3/4 cents,
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