Soybean Bulls Pushing Higher at Midday
Soybeans are showing firmer trade on Tuesday, with contracts up to 1 ¼ cents higher at midday. The cmdtyView national average Cash Bean price is up 1 1/4 cents at $12.70 3/4. Soymeal futures are up another $4.30, with Soy Oil down 55 to 61 points.
USDA's Crop Progress report from NASS showed 62% of the US soybean crop dropping leaves as of 9/20. Harvest was listed at 12% complete, ahead of the 8% average pace. Condition ratings were steady at 58% gd/ex, with the Brugler500 index slipping 1 point on a move from fair to poor at 352.
Livestock Futures Bears Are Growling with Lean Hog Prices Leading the Downside
The Buenos Aires Grain Exchange estimates the 2026/27 Argentina soybean crop 53.6 MMT, which would be above the 50.1 MMT from last year.
China's Sinograin sold 338,674 MT of soybeans on Tuesday, which was just over 62% of the total offered. They announced another 514,000 sale for next Monday.
