Soybean prices on Monday increased by 8 to 10 cents in the coming months, reaching $12.46. The average cash price of soybeans has risen by 8.5 cents to $12.46. Meanwhile, soybean futures are trading in the range of $3.50 to $3.80, while soybean oil prices have decreased by 45 to 55 points.
Soybean Exports and Market Developments
Export statistics for soybeans from the USDA indicate the shipment of 672.75 thousand tons of soybeans in the week ending September 10, which is a 44.8 percent increase compared to the previous week, but a 18.2 percent decrease compared to the same period last year. China is the main destination for these exports with 328,245 tons, followed by Indonesia with 74,200 tons and Japan with 65,070 tons. Total exports for the marketing year have reached 914,826 tons, which is 15.8 percent less than last year.
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Futures Contract Volatility and Future Plans
Commitment of Traders data shows that institutional investors have added 24,848 contracts to their long positions in soybean futures, bringing the total to 266,031 contracts, which is a new record. Additionally, NOPA data expected to be released on Tuesday is anticipated to show 211.55 million bushels of soybeans being processed. Estimates suggest that soybean oil stocks have reached 1.257 billion pounds.
On Monday, CHS announced that a new facility with a capacity of 80 million bushels per year will be launched in Evansville, Wisconsin, expected to be operational by fall 2028. Furthermore, AgRural has estimated that 0.4 percent of the soybean crop for the 2026/27 growing season has been planted in Brazil.
In the trading market, November 26 soybean futures are priced at $13.05, January 27 at $13.20, and March 27 at $13.28, which have increased by 8.5, 8.75, and 9.5 cents respectively.
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