On August 26, soybean futures experienced losses ranging from 3 to 10 ¾ cents, with the cmdtyView national average cash bean price declining by 10 cents to $11.26 1/4. Soymeal futures also fell, dropping 30 to 70 cents in the front months, while soy oil decreased by 48 to 102 points. A private export sale reported by the USDA included 136,000 MT of soybeans to China and 180,000 MT of soybean meal to the Philippines.
As of August 9, NASS reported that 93% of the U.S. soybean crop is blooming, with 74% setting pods—5 percentage points ahead of the 5-year average. However, condition ratings slipped by 1% to 62% good/excellent. The Brugler500 index decreased by 2 points to 361, largely due to lower ratings in North Dakota. Meanwhile, ANEC increased its estimate of August Brazilian soybean exports by 1.14 MMT to 10.88 MMT.
Looking ahead, a Reuters survey predicts that Wednesday’s NASS report will set U.S. soybean yield at 52.9 bushels per acre, with harvested acres expected to rise by 163,000 to 84.564 million acres. Total production is forecast at 4.472 billion bushels. Stocks for 2025/26 are estimated at 321 million bushels, down 9 million from the previous month, while new crop soybean stocks are anticipated to decrease by 6 million to 304 million bushels.
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