Soybean futures declined significantly on September 26, with prices falling by 21 to 35.75 cents across various contracts, bringing November soybeans down 13.25 cents for the week to close at $12.80 ¼. The cmdtyView national average cash bean price also dropped 36 cents to $12.38 ½. Soymeal futures decreased by $1.50 to $4.20, while soybean oil saw declines between 135 and 227 points, although October oil managed a 30-point gain for the week.
The USDA’s monthly Crop Production report increased the soybean yield to 52.8 bushels per acre, up 0.1 BPA from August, resulting in a production estimate of 4.535 billion bushels, an increase of 16 million bushels. Harvested acreage was raised by 100,000 acres to 85.881 million. Old crop U.S. stocks remained unchanged at 325 million bushels, while the USDA cut carryout for 2026/27 soybeans by 10 million bushels to 310 million bushels due to increased exports.
In export news, the weekly data reported net cancellations of 175,309 metric tons for old crop soybeans while new crop sales reached 2.637 million metric tons. Commitments from managed money spec funds grew by 24,848 contracts, totaling a record net long of 266,031 contracts in soybean futures and options.
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