News report
🌐 Macro
📊 Neutral
Soybean Futures Slip 4-5 Cents Following Monday's 9-Cent Rally
Soybean prices pull back as the market digests a 6% harvest completion rate and prepares for upcoming NOPA crush reports, following a strong Monday session.
Impact
10/10
💡 Key Takeaways
- U.S. soybean harvest reaches 6% completion, trending ahead of the 3% five-year average.
- Export shipments for the week ending September 10 totaled 672,750 MT, with China remaining the primary destination.
- CHS announced plans for a new 80 million bushel-per-year crush facility in Wisconsin, slated for 2028 completion.
📋 Executive Summary
Soybean futures retreat 4 to 5 cents in early trading after Monday's session saw gains of up to 9 3/4 cents. Market activity remains focused on the U.S. harvest pace, which currently sits at 6% complete, outpacing the 3% historical average, while traders await fresh NOPA crush data.
📊 Sentiment Analysis
Sentiment
📊 Neutral
Impact Score
10/10
Asset Class
🌐 Macro
❓ Frequently Asked Questions
As of the latest NASS Crop Progress report, 44% of the soybean crop is dropping leaves, and the harvest is 6% complete, which is ahead of the 3% average pace.
Traders are anticipating a crush volume of 211.55 million bushels of soybeans among NOPA members for the month.
📰 Source
📅 Originally published:
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