Soybean Prices Decline Amid Weather Concerns
On Wednesday, soybean prices fell by approximately 3 to 4 cents across the front months. The cmdtyView national average Cash Bean price dropped 3¾ cents to $12.56¾. Soy meal and oil also saw declines of $1.50 and between 80-95 points respectively. Analysts anticipate USDA's Export Sales data update on Thursday, expecting soybean sales in the range of 0.9–2.4 MMT for the week ending September 16. The market is closely watching weather conditions that may affect harvest progress across parts of the Midwest and Eastern Corn Belt due to expected heavy rainfall. In addition, Canada's canola crop estimate for 2026/27 stands at 22.05 MMT—a slight decline from last year—while soybean output is projected up by 7.8% to 7.456 MMT. November and January futures contracts are trading lower as well, with Nov 26 Soybeans down to $13.15 and Jan 27 at $13.31¼.
Topics: commodities soybeans USDA data weather impact