Soybeans Slipping Back in Monday Morning

Market Overview - Soybeans are experiencing fractional losses in early trading on Monday, following a week where futures gained 12 to 13 cents, with November futures up 19 ¼ cents [1] - The national average cash bean price increased by 13 cents to $9.70 ¼, while soymeal futures rose by 60 cents to $1.50, with October up $7.10 for the week [1] - Soy oil futures closed with gains of 49 to 59 points, with October up 86 points last week [1] Commitment of Traders Report - The CFTC's weekly Commitment of Traders report indicated that managed money shifted to a net short position of 14,714 contracts, representing a move of 26,678 contracts to the short side [2] Crop Production Insights - The monthly Crop Production report revealed a slight reduction in US soybean yield to 53.5 bushels per acre (bpa), which is still above estimates [3] - Planted and harvested acres increased by 0.21 million, totaling 81.135 million acres, while production rose by 8 million bushels (mbu) to 4.3 billion bushels (bbu), contrary to estimates that predicted a 21 mbu reduction [3] - The USDA reported old crop ending stocks at 330 mbu, with the 2024/25 marketing year projected to increase by 10 mbu to 300 mbu, alongside a 20 mbu cut to exports and a 15 mbu increase in crush [3] Global Soybean Stocks - World soybean stocks decreased by 1.61 million metric tons (MMT) to 123.58 MMT, primarily due to a decline in old crop stocks from Argentina [4] - New crop world bean carryout was down 0.91 MMT to 123.99 MMT [4] Pricing Summary - As of September 25, soybeans closed at $10.25 ¾, up 20 ¼ cents, with nearby cash at $9.70 ¼, up 13 cents [4] - November 2025 soybeans closed at $10.46 ¼, up 12 ¾ cents, while January 2026 soybeans closed at $10.65 ¼, also up 12 ¾ cents [4]