Soybeans Rally as USDA Trims US Stocks

Soybeans were in rally mode after a friendly USDA report for carryout, as contracts closed with gains of 14 to 42 ¼ cents across the board, and led by the front months. The cmdtyView national average Cash Bean price was up 40 1/2 cents at $11.66 3/4. Soymeal futures closed with contracts $3.80 to $6.80 higher, as Soy Oil futures were 38 to 78 points higher.

USDA reported a private export sale of 150,000 MT of soybeans to Mexico for 2026/27 this morning.

Crop Production data from this morning showed US soybean yield revised 0.2 bushel per acre higher from October to 53.3 bpa. That was compared to trade ideas of a 0.4 bpa increase. Production for the US was 12 million bushel higher to 4.574 billion.

WASDE data showed US soybean ending stocks down 15 mbu to 300 mbu, despite the increased output. mainly on a 25 mbu increase to exports. World soybean stocks were down 0.78 MMT to 123.50 MMT, as the South American output was unchanged. 

Crop Progress data from Monday afternoon indicated 92% of the US soybean crop harvested as of Sunday, now 1 point ahead of average.

Chinese soybean imports during October were tallied at 7.35 MMT, down from 11.88 MMT in September.

Nov 26 Soybeans  closed at $12.24 1/2, up 42 1/4 cents,

Nearby Cash  was $11.66 3/4, up 40 1/2 cents,

Jan 27 Soybeans  closed at $12.28, up 39 3/4 cents,

Mar 27 Soybeans  closed at $12.34 1/2, up 39 1/2 cents,

Nov 27 Soybeans  closed at $11.93 3/4, up 19 1/4 cents,

New Crop Cash  was $11.26 1/2, up 19 1/2 cents,

On the date of publication, Austin Schroeder did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.