Soybeans Close with Gains on Monday, as Ratings Slip
Soybeans futures posted modest strength on Monday, with contracts up 1 ¼ to 5 ¾ cents across the board. The cmdtyView national average Cash Bean price was up 3 ½ cents at $11.36 1/4. Soymeal futures were down $1.80 to $4.40, with Soy Oil up 83 to 130 points.
Weekly Crop Progress data from NASS showed 93% of the US soybean crop blooming by 8/9, with 74% setting pods and 5 percentage points faster than the 5-year average. Condition ratings were down 1% at 62% gd/ex, with the Brugler500 index slipping 2 points at 361.
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USDA’s FGIS tallied soybean export shipments at 399,201 MT (14.668 mbu) during the week ending on August 8. That was 15% above the week prior but 26.7% shy of the same week last year. Germany was the top destination of 86,260 MT, with 81,851 MT headed to Mexico and 81,699 MT to Japan. Marketing year exports for 2025/26 are 39.75 MMT (1.46 bbu), which is now 17.9% below the same period last year.
A Reuters survey of traders shows expectations for NASS to peg US soybean yield at 52.9 bpa next Wednesday. Harvested acres are seen 163,000 acres higher than in the June report at 84.564 million acres, with production seen at 4.472 bbu. Ahead of the WASDE, stocks for 2025/26 are seen at 321 mbu, down 9 mbu from the previous month. New crop soybean stocks are estimated to drop 6 mbu to 304 mbu.
Aug 26 Soybeans closed at $11.57 3/4, up 1 1/4 cents,
Nearby Cash was $11.36 1/4, up 3 1/2 cents,
Sep 26 Soybeans closed at $11.61 3/4, up 2 3/4 cents,
Nov 26 Soybeans closed at $11.79 1/2, up 3 1/4 cents,
New Crop Cash was $11.20 1/4, up 3 1/2 cents,
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