Soybean Prices Mixed Amid USDA Report
On Monday morning, soybeans showed mixed trading activity with front-month contracts rising while others fell. The previous week saw a decline in futures prices across the board as traders liquidated long positions and pulled money off the table. Cash bean prices dropped to $12.38½, down 36 cents from earlier levels. Soymeal and soy oil also experienced declines, with soymeal falling by $1.50 at close and soy oil dropping between 135-227 points. The USDA's monthly Crop Production report indicated a slight increase in projected U.S. soybean yields to 52.8 bushels per acre (bpa), up from August’s estimate, with production rising by 16 million bushels due to higher harvested acres. The agency also reduced its carryout forecast for the 2026/27 season and raised export expectations. Global ending stocks estimates were adjusted upward slightly. Commitment of Traders data showed a record net long position in soybean futures held by managed money speculators, while AgRural reported only minimal planting progress on Brazil’s upcoming crop.
Topics: futures trading soybeans USDA report