Soybean Pulling Back on Wednesday

Soybeans are trading with contracts 3 to 4 cents lower across the front months at midday. The cmdtyView national average Cash Bean price is down 3 3/4 cents at $12.56 ¾. Soymeal futures are back down $1.50 to $2, with Soy Oil 80 to 95 points lower.

USDA will update Export Sales data on Thursday morning, as analysts surveyed by Reuters are looking for between 0.9-2.4 MMT in 2026/27 soybean sales in the week ending last Thursday. Soybean meal bookings are seen between 150,000 and 650,000 MT in total, as bean oil is expected in a range of net cancellations of 10,000 and combined sales of 10,000 MT.

Coffee Prices Retreat on Ideal Growing Weather in Brazil and Vietnam

Harvest may be hampered in the near term, as eastern NE and SD through MN, IA, northern MO and the rest of the Eastern Corn Belt looking at more than 1-3 inches of rain.

Stats Canada data estimates the Canadian canola crop for 2026/27 at 22.05 MMT, a 0.8% drop from last year. Soybean output is seen up 7.8% to 7.456 MMT.