Soybeans closed out the Monday session with contracts down 3 to 4 cents across the front months. The cmdtyView national average Cash Bean price was down 4 1/4 cents at $9.66. Soymeal futures were down $2.30 to $2.70, with Soy Oil futures posting 12 point front month gains. 

Weekly NASS Crop Progress data indicated a total of 41% of the US soybean crop was dropping leaves by 9/14, with harvest listed at 5%. Condition ratings were 1% lower to 63% as the Brugler500 index dropped 3 points to 362. 

US Treasury Secretary Bessent is meeting with Chinese counter parts in Madrid this week after weekend talks centered mostly on TikTok ownership. Very little has been mentioned thus far on trade following the ongoing talks.

NOPA data from this morning showed a massive 189.81 mbu of soybeans crushed during August, more than 7 mbu above estimates. That was a 3.01% drop from July but still 20.13% larger than last year and 12.93% above the previous August record. Soybean oil stocks at the end of the month were 1.245 billion lbs, which was up 9.39% from last year but down 9.7% from July. 

This morning’s Export Inspections report showed a total of 804,352 MT (29.55 mbu) of soybeans shipped in the week of 9/11. That was 72% above the week prior and 69.7% larger than same week last year. Italy was the largest buyer of 125,063 MT, with 110,294 MT shipped to Bangladesh and 88,234 MT to Mexico. The marketing year total is now at 1.068 MMT (39.249 mbu) shipped, with is 42.9% above the same short period last year.

AgRural estimates the 2025/26 Brazil soybean crop at just 0.12% planted.

Nov 25 Soybeans  closed at $10.42 3/4, down 3 1/2 cents,

Nearby Cash  was $9.66, down 4 1/4 cents,

Jan 26 Soybeans  closed at $10.61 3/4, down 3 1/2 cents,

Mar 26 Soybeans  closed at $10.76 1/2, down 3 3/4 cents,