Soybeans Falling Back on Thursday AM

Market Overview - Soybean prices have decreased by 5 to 6 cents on Thursday morning after experiencing gains of 4 to 7.5 cents on Wednesday, primarily driven by front months [1] - Daily open interest data indicates new buying interest, with an increase of 19,222 contracts [1] - The national average cash bean price rose by 8.25 cents to $9.53.5 [1] Futures and Deliveries - Soymeal futures increased by 30 cents to $1.90 in the front months, while back months remained steady to 60 cents lower [1] - There were 61 deliveries against October meal overnight, and 11 deliveries for October bean oil were reported [1] Export Expectations - Despite the suspension of the weekly Export Sales report, traders anticipate soybean sales for 2025/26 to be between 0.6 to 1.6 million metric tons (MMT) for the week of October 2 [2] - Meal bookings are expected to be between 150,000 to 350,000 MT, with oil bookings ranging from 0 to 25,000 MT [2] Brazilian Exports - Brazilian soybean exports for October are estimated at 7.12 MMT, significantly higher than the 4.44 MMT recorded in the same period last year [3] Price Movements - November soybeans closed at $10.29.5, up 7.5 cents, but are currently down 5.5 cents [3] - Nearby cash prices are at $9.53.5, up 8.25 cents [3] - January 2026 soybeans closed at $10.44.25, up 5.25 cents, and March 2026 soybeans closed at $10.57.25, up 4.25 cents, both currently down [3]