Soybeans Showing Modest Gains as Meal Carries the Load

Soybeans experienced moderate gains on Thursday, with contracts rising by 2 to 4 cents at midday. The national average Cash Bean price for Soybeans stands at $12.64¾, while Soymeal futures have surged from $9 to $11.30 for the front months. Conversely, Soy Oil has declined by 75 to 80 points at midday. The 7-day forecast from NOAA predicts heavy rainfall across parts of South Dakota, Nebraska, Kansas, Iowa, Minnesota, Wisconsin, Illinois, Indiana, and Ohio, potentially hampering early harvesting efforts.

Cocoa prices remain steady, hovering below their 11.5-month highs, while coffee prices have been pressured by a more favorable outlook for global supply. A recent USDA Export Sales report revealed that in the week of September 10, 2026/27, there were 1.7 million metric tons of soybean sales, which surpassed analysts' estimates of 0.9 to 2.4 million metric tons.

Soybean meal bookings were recorded at 210,507 metric tons, falling within the analyst's estimates of 150,000 and 650,000 metric tons. For the current marketing year, 23,673 metric tons of bean oil were booked, with net reductions of 23,673 metric tons for 2025/26 and 4,535 metric tons for 2026/27, between estimated net cancellations of 10,000 metric tons and combined sales of 10,000 metric tons.