Soybean futures eased off the Tuesday lows, but still closed with 6 to 8 cent losses. The cmdtyView national average Cash Bean price was down 7 3/4 cents at $9.67. Soymeal futures closed with gains of 60 cents to $7.00, with Soy Oil futures back down 98 to 159 points on the day. 

USDA reported a private export sale of 228,606 MT of soybeans to Mexico this morning, all for 2025/26.

Crop Progress data from NASS Monday afternoon showed 82% of the US bean crop setting pods by Sunday, matching normal. Soybean conditions were steady at 68% gd/ex, though the Brugler500 index was down another point to 373. Ratings in IL were up 8 points, with IA, MI and the Dakotas improving 2, and NE up 3 points. Some deterioration was noted in fringe states, with the Southeastern states dropping, and OH down 2 points.

The annual ProFarmer Crop Tour got kicked off on Monday, with the first legs in Ohio and South Dakota. Ohio pod counts averaged 1,287.28, which was 4.66% above last year and 6.84% larger than the 3-year average. Pod counts in South Dakota were up 15.84% from a year ago at 1,188.45, which was also 22.51% above the 3-year average. Results will be announced for Nebraska and Indiana this evening. 

ANEC estimates the Brazilian soybean export total at 8.9 MMT for August, which is above the 8.8 MMT total from last week’s numbers. 

Sep 25 Soybeans  closed at $10.13, down 7 3/4 cents,

Nearby Cash  was $9.67 1/1, down 7 3/4 cents,

Nov 25 Soybeans  closed at $10.33 3/4, down 7 1/2 cents,

Jan 26 Soybeans  closed at $10.53 1/4, down 6 3/4 cents,

New Crop Cash  was $9.58 1/1, down 7 3/4 cents,