Soybeans Firming on Tuesday AM Trade

Soybeans are trading with contracts 2 to 3 cents higher. Futures closed with contracts steady in some back months to down 7 ¾ cents in the front months on Monday. Open interest was up 6,349 contracts on MondayThe cmdtyView national average Cash Bean price was down 8 cents at $11.94 1/4. Soymeal futures were down 60 cents to $2.30, as Soy Oil futures were 24 to 46 points lower.

Late on Tuesday, the White House announced a Harvest Fuel Relief Program, providing producers with $8 billion in assistance due to high fuel prices. 

USDA confirmed another round of private export sales of 114,000 MT of soybeans to China on Monday morning, with another 261,000 MT to unknown destinations. That follows the combined 1.87 MMT in sales announced last week. 

The NASS Crop Progress report from Tuesday indicated 64% of the US soybean harvest was complete, now 1 percentage points behind normal and catching up. 

The Monday Export Inspections report showed soybean shipments of 2.002 MMT (73.55 mbu) in the week of 10/15. That was 80.4% larger than the week prior, up 25.8% from the same week last year and the largest weekly shipments since November 2024. China was the largest destination of 1.282 MMT, with 213,260 MT shipped to Mexico and 94,911 MT to Japan. Shipments for the marketing year are now at 7.159 MMT (263.06 mbu) of soybeans, which is now 26.6% ahead the same period last year.

Brazil’s soybean crop in the Center-South region is estimated at 26% planted as of Thursday, in line with the 24% pace from last year.

China’s Sinograin sold 297,472 MT of the 504,000 MT of imported soybeans auctioned off overnight. 

Nov 26 Soybeans  closed at $12.53 1/2, down 7 3/4 cents, currently up 3 cents

Nearby Cash  was $11.94 1/4, down 8 cents,

Jan 27 Soybeans  closed at $12.68 3/4, down 7 cents, currently up 3 cents

Mar 27 Soybeans  closed at $12.77 3/4, down 6 1/2 cents, currently up 2 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.