As of midday trading, soybean prices have increased by 4 to 9 cents, with CmdtyView reporting a national front month Cash Bean price at $9.47 ½, up 7 ½ cents. Soybean shipments in September reached 2.98 million metric tons, a four-year high, marking a 73.69% increase from August and a 19.17% rise compared to the previous year. Soymeal exports for the month also hit a record at 1.126 million metric tons, representing a 23.81% increase from the prior month.
The U.S. soybean harvest is reported as 94% complete, significantly ahead of the five-year average by 9 percentage points. StoneX has projected the soybean crop yield at 52.6 bushels per acre, a decrease of 0.9 bushels from previous estimates. Current soybean futures include Nov 24 at $9.96 ½, Jan 25 at $10.04 ¼, and May 25 at $10.33, all reflecting upward movement.
