Soybeans Holding onto Tuesday Gains at Midday

Soybeans maintained gains throughout Tuesday's trading session. The national average Cash Bean price climbed 5.5 cents to $11.81. Soymeal futures decreased by 60 cents in the front months, while Soyoil futures slipped 125 to 150 points. The USDA announced a private export sale of 136,000 metric tons of soybeans to China for the 2026/27 season.

The Pro Farmer Crop Tour commenced on Monday, with pod counts in South Dakota averaging 945.98 per acre, 20.4% below last year and 12.07% lower than the three-year average. Ohio's pod count was 1,197.25 bushels per acre, down 6.99% year-over-year and 4.74% from the three-year average. Indiana and Nebraska's figures will be released later that evening.

According to NASS, 96% of the US soybean crop was blooming by August 16, with 85% setting pods, exceeding the five-year average by 5 percentage points. Soybean condition ratings dipped 1% to 61% gd/ex, and the Brugler500 index remained unchanged at 361. Deterioration was observed in South Dakota (-13), Minnesota (-8), Indiana (-6), Missouri (-3), Kansas, Louisiana, Michigan, Mississippi, North Carolina, Tennessee, and Wisconsin.

However, some improvement was noted in Iowa (+2), Nebraska (+4), North Dakota (+9), and Ohio (+3). Brazilian soybean exports are projected at 10.56 million metric tons by ANEC, a decrease of 0.32 million metric tons from the previous week. At the time of publication, Austin Schroeder held no positions in the mentioned securities. All information and data in this article are provided for informational purposes only.