Soybean Market Update

Soybean prices dipped on Monday, with nearby contracts falling by 1-2 cents, although some contracts for 2026 showed some resilience. The national average Cash Bean price reported by cmdtyView dropped 1.5 cents to $10.50 1/2. Meanwhile, soybean meal futures decreased by 50 to 90 cents, while other futures gained between 80 cents and $1.80. Soybean oil futures varied, dropping 2 to 8 points, but some contracts remained steady, and others saw a rise of 6 points.

This morning, the USDA announced private export sales of 123,000 tons of soybeans to China. During a CNBC interview, Agriculture Secretary Rollins hinted that an agreement between the US and China regarding the previously mentioned 12 MMT soybean commitments could be reached within the week. Earlier on Monday, President Trump and Chinese President Xi Jinping had a phone conversation where they touched upon several topics, including soybeans.

This week’s total soybean exports reached their lowest level since 2006, with only 799,042 tonnes (29.36 million bushels) shipped for the week ending November 20. This represented a significant drop of 33.7% from the previous week and a staggering 62.3% compared to the same week last year. Bangladesh led in imports with 152,725 tons, followed by Algeria at 140,821 tons and Taiwan at 95,398 tons. Notably, China was absent from this list. For the commercial year, shipments totaled only 10.937 MMT (401.87 million bushels), a decrease of 44.5% from last year.

The USDA plans to release export sales data on Tuesday morning. Traders are predicting sales of 0.5 to 1.4 MMT of corn for the week of October 9. Additionally, delayed data suggests meal sales might fall between 150,000 and 400,000 tons, with bean oil anticipated to be between 5,000 and 30,000 tons.

Agraral has estimated that Brazil’s soybean planting rate stood at 81% as of Thursday, which is notably lower than last year’s pace of 86%.

Soybean Closing Prices

• January Soybeans: Closed down 1 3/4 cents at $11.23 1/4
• Cash Soybeans: $10.50 1/4, down 1 1/2 cents
• March Soybeans: Closed down 2 1/4 cents at $11.32
• May Soybeans: Closed down 1 1/4 cents at $11.42