Soybean prices are experiencing a decline of 9 to 13 cents as traders analyze the latest USDA report. The national average cash bean price stands at $9.80 1/4, marking a decrease of 9 1/4 cents. Additionally, soymeal futures have dropped by $4.20-4.60, while soy oil futures have seen an increase of 80 to 85 points. Deliveries issued against soybeans on Friday night totaled 33, with 2 for January bean meal.
The USDA’s FGIS reported soybean export shipments at 1.529 MMT (56.21 mbu) for the week ending on January 8. This figure represents the second-largest total for the marketing year, showing a 55.4% increase from the previous week and a 12.7% rise from the same period last year. China was the leading destination with 901,118 MT, followed by Mexico with 126,235 MT. Year-to-date exports for 2025/26 have reached 17.934 MMT (659 mbu) since September 1, reflecting a 42.7% decrease compared to the previous year.
The latest Crop Production report revealed that the NASS soybean yield remains steady at 53 bpa, with harvested acreage slightly higher at 80.4 million acres. Production saw a modest increase of 9 mbu to 4.262 bbu. This adjustment was factored into the WASDE data, which also included a 60 mbu reduction in exports to 1.575 bbu and a 15 mbu increase in crush to 2.57 bbu. As a result, US ending stocks rose by 60 mbu to 350 mbu, exceeding expectations of 295 mbu.
Quarterly Grain Stocks data showed December 1 soybean stocks at 3.29 bbu, marking a 190 mbu increase from last year and surpassing analysts’ estimates by 40 mbu. AgRural estimates that 0.6% of the Brazilian soybean crop had been harvested by last Thursday, slightly ahead of last year’s pace. In its WASDE report, the USDA raised Brazilian soybean production by 3 MMT to 178 MMT.
As of January 26, soybean prices are as follows: Jan 26 Soybeans at $10.36 1/4 (down 12 1/4 cents), Nearby Cash at $9.80 1/4 (down 9 1/4 cents), Mar 26 Soybeans at $10.53 (down 9 1/2 cents), and May 26 Soybeans at $10.65 1/4 (down 9 1/4 cents).
Please note that the information provided in this article is for informational purposes only. The original article was published on Barchart.com.
