Soybean futures trading activity reflected mixed momentum in recent sessions. Contracts moved lower during the current period, trading 4 to 5 cents down, following Monday’s gains when futures closed higher by 5 to 9 3/4 cents. Open interest expanded by 12,998 contracts, suggesting ongoing market engagement.
The cmdtyView national average cash bean price rose 7 3/4 cents to $12.44 1/4. Related soybean products showed strength, with soybean meal futures up 40 cents closing at $3.40, and soy oil futures advancing 35 to 56 points across various contract months. Deliveries against September contracts remained light, with no deliveries issued against September soybeans, six for soybean meal, and 10 for September bean oil.
Crop conditions showed resilience according to NASS data. The Crop Progress report indicated 44% of the U.S. soybean crop had dropped leaves as of Sunday, with harvest completion at 6% compared to a historical average of 3%. Condition ratings held steady at 58% good/excellent, while the Brugler500 index remained unchanged at 353. Export activity during the week ending September 10 totaled 672.75 MT, representing a 44.8% increase from the prior week but 18.2% below the same period last year. China led destination countries at 328,245 MT, followed by Indonesia with 74,200 MT and Japan with 65,070 MT. Marketing year shipments for the initial week and a half stood at 914,826 MT, running 15.8% below the comparable prior-year timeframe.
Industry developments included CHS’s announcement of a new 80 mbu/year crush facility planned for Evansville, Wisconsin, with completion targeted for fall 2028. Brazilian soybean production estimates remained relatively stable, with CONAB’s latest assessment placing output at 180.4 MMT, down only 0.06 MMT from the previous month’s forecast.
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