Soybean Prices Drop Amid USDA Production Increase
On September 12, soybean prices fell across the board as traders reacted to a revised production estimate from the U.S. Department of Agriculture (USDA). The November contract dropped by 35¾ cents per bushel for the week and closed at $12.96½. Cash bean prices also declined significantly, with the national average falling to $12.38½ after dropping 36 cents in a single day. The USDA's monthly Crop Production report raised soybean yield projections slightly from 52.4 bushels per acre (bpa) to 52.8 bpa and increased production by 16 million bushels (mbu), reaching 4.535 billion bushels, due in part to higher harvested acres. This led the USDA to reduce carryout for the 2026/27 crop year by 10 mbu while raising export estimates. Global soybean stocks also saw adjustments with a slight increase of 0.15 million metric tons (MMT) in old-crop world ending stockpiles, but new-crop stocks fell to 124.02 MMT.
Topics: price movement production increase soybeans USDA report