Soybeans Extending Weakness on Friday Morning

Soybeans are kicking off Friday trade with losses of 6 to 7 cents. Futures bounced off the intraday lows on Thursday, with contracts closing 7 to 9 cents lower in the nearbys and down 1 3/4 to 6 ½ cents in deferreds. Open interest suggested a rotation of ownership, up just 472 contracts. The cmdtyView national average Cash Bean price was down 10 1/2 cents at $12.29. Soymeal futures were down $1.50 to $5.00 at the close, with Soy Oil 70 to 90 points lower. 

Harvest should be able to resume over the next week, with a pocket opening up for much of the US growing region in the &-day QPF from NOAA.

Export Sales data from USDA was released on Thursday with a total of 1.034 MMT of 2026/27 beans sold in the week of 9/24. That was back up from last week by 77.45% and nearly 27.25% larger than the same week last year. China was the top buyer of 589,400 MT, with 111,500 MT sold to Egypt. 

Bean meal sales were tallied at net reductions of 51,069 MT for the current MY and 212,674 MT for 2026/27, which was between estimates for range of 0 to 550,000 MT. Bean oil sales were pegged at 173 MT, between the expected net reductions of 10,000 MT and net sales of 3,000 MT.

August soybean crush was released on Thursday afternoon with a total of 209.6 mbu of soybeans used by crushers in the month. That was shy of trade ideas by nearly 1 mbu and down 5.53% from July and was 5.86% larger than last year. Full marketing year crush was 2.645 bbu, shy of the 2.655 bbu USDA estimate. Soybean oil stocks were seen at 1.696 billion lbs, down 13.58% from July and 5.14% below last year.

US soybean production was raised by 101 bbu, according to StoneX, at 4.648 bbu, with their yield estimate increased by 1.1 bpa to 54.1 bpa. StoneX estimates the Brazilian soybean crop at 183.36 MMT, which is down 0.24 MMT from the previous number.

Nov 26 Soybeans  closed at $12.84, down 9 cents, currently down 6 3/4 cents

Nearby Cash  was $12.29 1/1, down 10 1/2 cents,

Jan 27 Soybeans  closed at $13.00 3/4, down 8 1/2 cents, currently down 6 1/2 cents

Mar 27 Soybeans  closed at $13.10 3/4, down 7 3/4 cents, currently down 6 1/4 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.