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Soybean futures closed lower on September 1, with contracts down 8 to 9.5 cents. The cmdtyView national average Cash Bean price fell to $9.25, a decrease of 9.5 cents. Despite tighter-than-expected stock totals, NASS reported 316 million bushels of soybeans on hand, 9 million bushels below trade estimates and 14 million bushels lower than previous WASDE projections, representing a 26 million bushel decrease from last year.
As of this week, 19% of the U.S. soybean crop has been harvested, slightly behind the average pace of 20%. The overall condition rating improved to 62% good/excellent. Notable declines in condition were recorded in Kansas, North Dakota, South Dakota, Tennessee, and Wisconsin, while improvements were seen in states including Illinois, Indiana, and Missouri.
Argentinian soybean production is estimated at 48.5 million metric tons for 2025/26, down 1.8 million metric tons from the previous year. Brazilian soybean exports for September are projected at 7.13 million metric tons.
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