**Soybean Market Update – September 26, 2023**
Soybean contracts closed lower on Thursday, with declines ranging from 1½ to 2½ cents. The cmdtyView national average cash bean price increased by ¾ cent to $11.99¾. Soymeal futures fell by 70 cents to $3.20, while Soy Oil values rose between 48 to 141 points.
The USDA reported the sale of 150,000 metric tons of 2026/27 soybeans to unknown destinations. Additionally, export sales data indicated old crop bean sales reaching 85,016 metric tons for the week of August 13, a three-week high, with China purchasing 1.131 million metric tons of new crop soybeans. The ProFarmer Crop Tour revealed Illinois pod counts averaging 1,430.37 in a 3’x3’ square, 3.3% lower than last year but up 2.93% from the three-year average. Results for Iowa and Minnesota are expected later today.
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