Soybeans Hold Lower on Wednesday, as Contract Bounce Off Early Lows

Soybeans slipped lower on Wednesday though nearby contracts bounced 6 to nearly 10 cents off the lows to close with losses of 3 to 10 cents. The cmdtyView national average Cash Bean price was down 2 3/4 cents at $11.87. Soymeal futures were down 40 cents to $2.60, as Soy Oil futures were 71 to 90 points lower.

USDA reported a private export sale of 134,000 MT of soybeans to China this morning, all for 2026/27, with another 165,000 MT sold to Spain.

The weekly Export sales report will be out on Thursday morning, as analysts surveyed by Reuters are looking for 1.8-3 MMT of 26/27 soybean sales in the week of 10/15. Daily announcements were tallied at 1.877 MMT during that week. Bookings for 2027/28 are expected to total 0-25,000 MT.

The NOAA 7-day forecast remains relatively dry, though a system is expected to work into the NM/CO and Texas Panhandle to western KS and parts of NE over the weekend. Producers have worked to get back to a normal harvest pace despite the early delays. 

Nov 26 Soybeans  closed at $12.45 1/4, down 3 cents,

Nearby Cash  was $11.87, down 2 3/4 cents,

Jan 27 Soybeans  closed at $12.58 1/4, down 5 1/4 cents,

Mar 27 Soybeans  closed at $12.66 1/4, down 7 cents,