Soybeans Fading Another Round of Chinese Purchases, as Crush Falls in September

Soybeans are down 10 to 12 cents across the front months at midday, as futures fade Chinese purchases and sell a bearish NOPA report. The cmdtyView national average Cash Bean price is down 11 1/4 cents at $12.07 1/2. Soymeal futures are down $3.50 to $3.70, with Soy Oil futures up 28 to 35 points. 

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.

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  are at $12.66 1/4, down 11 cents,

Nearby Cash  is at $12.07 1/4, down 11 1/4 cents,

Jan 27 Soybeans  are at $12.80 3/4, down 11 1/4 cents,

Mar 27 Soybeans  are at $12.89 1/2, down 10 1/2 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.