Soybeans Fall Despite Another Round of Chinese Purchases, as September Crush Drops

Soybeans fell further into the close on Thursday, down 10 to 14 ¼ cents as futures faded Chinese purchases and sell a bearish NOPA report. The cmdtyView national average Cash Bean price was down 14 1/2 cents at $12.04. Soymeal futures were down $1.20 to $4.70, with Soy Oil futures up 9 points to 21 points lower. 

USDA confirmed private export sales of 330,000 MT of soybeans to China this morning, all for 2026/27, with 283,450 MT sold to unknown destinations during the reporting period. That took the total announced for the week to just over 1 MMT.

Export Sales data will be released on Friday, with traders surveyed by Reuters looking for between 0.5-1.2 MMT in 2026/27 soybean sales in the week of 10/8. Sales for 2027/28 are seen in a range of 0-50,000 MT. Soybean sales are seen in a range of 200,000 to 60,000 MT, with bean oil expected to be between sales of 0-10,000 MT.

NOPA data was released this morning, with a total of just 196.3 mbu of soybeans crushed in September, down 0.8% from last year and 4.46% below the August total. That was well below estimates coming in. Soybean oil stocks were down 12.35% from the end of August and 15.31% below last year at 1.053 billion lbs. that was the lowest stocks total since November 2014.

CONAB estimates the 2026/27 Brazilian soybean crop at 181.6 MMT, up just 0.7% from a year ago and well below the 186 MMT estimate from USDA. Acreage was just 1.43% higher at 49.3 million hectares (121.84 million acres), and the smallest yr/yr increase since 2011/12.

Nov 26 Soybeans  closed at $12.63, down 14 1/4 cents,

Nearby Cash  was $12.04 1/1, down 14 1/2 cents,

Jan 27 Soybeans  closed at $12.77 3/4, down 14 1/4 cents,

Mar 27 Soybeans  closed at $12.86 1/4, down 13 3/4 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions 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.