Soybeans settled the Tuesday session with contracts up fractionally to 1 3/4 cents. CmdtyView’s national front month Cash Bean price was down 1/4 cent at $9.95 3/4. Soymeal continued to lead the charge, up another $1 to $5.90/ton in the nearbys and some 2025 contracts down a dime to $1. Soy Oil futures were down 3 to 60 points on the day.

A private export sale of 120,000 MT of soybeans was reported to unknown destinations this morning for 2024/25 shipment.

USDA’s monthly Fats & Oils report indicated a total of 167.54 mbu of soybean crushed during August. That was a 13.31% drop from July and a 0.85% decline from August 2023. The full marketing year crush total 2.287 bbu, compared to the 2.295 bbu estimated from WAOB earlier this month. 

Crop Progress data showed harvest pace ahead of, or on pace, in all but KS, NC, and SD. A drier outlook for the next week should allow for harvest to push along. Condition ratings by state saw IL and NE up 3 points, with ND and MI 6 points higher and OH improving 23 points. There was some deterioration noted in NC, down 10 points, and TN, losing 16 points and both impacted by Helene. Ratings in SD were down 14 points with MN slipping 2, as IA dropped by 1. 

StoneX estimates the Brazilian soybean crop at 165.03 MMT for 2024/25, steady with the previous estimate. On the US side, they increased the soybean yield by 0.5 bpa to 53.5 bpa, with production expected at 4.613 bbu and 38 mbu above the prior number.

Nov 24 Soybeans  closed at $10.57 1/4, up 1/4 cent,

Nearby Cash  was $9.95 3/4, down 1/4 cent,

Jan 25 Soybeans  closed at $10.75 1/2, up 1/4 cent,

May 25 Soybeans  closed at $11.02 3/4, up 1 1/4 cents,