Soybean futures are experiencing significant gains, rising by 11.25 cents to close at $12.00¾ on September 26, despite a slight drop of ¼ cent earlier in the day. Open interest increased by 15,411 contracts, indicating new buying interest, while the cmdtyView national average cash bean price rose 1 cent to $11.76. Notably, the USDA reported a private export sale of 136,000 MT of soybeans to China for the 2026/27 season.
The ProFarmer Crop Tour revealed that Nebraska’s pod counts averaged 1,219.62 per 3×3 foot square, marking a 9.54% decrease from last year. In Indiana, pod counts decreased by 4.21% to 1,318.64 bpa. Additionally, the USDA’s weekly Crop Progress data showed a 1% dip in soybean condition ratings, now at 61% good/excellent, with declines noted in states like South Dakota and Minnesota.
Brazil’s soybean exports were forecasted at 10.56 MMT, a reduction of 0.32 MMT from the prior week. In related news, China’s Sinograin successfully auctioned 308,000 of the 360,000 MT of imported soybeans offered.
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