Soybeans were under pressure from bean oil on Monday, with contracts down 4 to 15 ½ cents across most months, led by the nearbys. The cmdtyView national average Cash Bean price was down 13 1/2 cents at $11.88 1/2. Soymeal futures were up $2.60 to $6.20 on the day, with Soy Oil falling back 189 to 227 points.
Weekly Crop Progress data from NASS showed 91% of the US soybean crop setting pods by 8/23, with 6% dropping leaves. Condition ratings were down 1% at 60% gd/ex, with the Brugler500 index falling 4 points to 357.
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USDA’s FGIS tallied soybean export shipments at 420,895 MT (15.465 mbu) during the week ending on August 20. That was 43% above the week prior and 6.9% larger than the same week last year. Egypt was the top destination of 116,966 MT, with 71,630 MT headed to Indonesia and 60,643 MT to Italy. Marketing year exports for 2025/26 are 40.48 MMT (1.487 bbu), which is now 17.9% below the same period last year.
Pressure on bean oil came from a report that the EPA is planning to extend the September 1 compliance deadline for refiners by 30 to 90 days.
The US is reportedly set to impose a 7.5% tariff on Chinese goods on accusation sof excess manufacturing capacity. President Trump and China’s President Xi are expected to meet next month.
Following last week’s Crop Tour, Pro Farmer estimates the US national yield at 53.3 pba, with production at 4.572 bbu.
Sep 26 Soybeans closed at $12.16, down 9 cents,
Nearby Cash was $11.88 1/2, down 13 1/2 cents,
Nov 26 Soybeans closed at $12.24 1/4, down 15 1/4 cents,
Jan 27 Soybeans closed at $12.38 1/4, down 15 1/2 cents,
New Crop Cash was $11.69 3/4, down 14 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.
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