Soybeans Losses Continuing Early on Wednesday

Market Overview - Soybean prices are down 1 to 2 ½ cents in Wednesday AM trade, following a steady close on Tuesday with contracts ending 1 ¼ cents higher from early lows [1] - The national average Cash Bean price decreased by 1 ¼ cents to $9.32 ½ [1] Export Data - Export Inspections data reported 994,008 MT (36.52 million bushels) of soybeans shipped for the week ending October 9, marking a 26.9% increase from the previous week but a 49.9% decrease from the same week last year [3] - Mexico was the leading destination for soybean exports at 195,947 MT, followed by Spain at 182,090 MT and Bangladesh at 117,598 MT [3] - Year-to-date shipments total 4.04 MMT (148.45 million bushels), reflecting a 26% year-over-year decline [3] Production and Crush Data - NOPA crush data is anticipated to show a September total of 186.34 million bushels [4] - Brazil's soybean production for the 2025/26 season is projected at 177.64 MMT, slightly down from 177.67 MMT reported last month [4] - Brazil's October soybean exports are estimated at 7.31 MMT, a 0.19 MMT increase from the previous week [4] Price Movements - November 25 Soybeans are priced at $10.06 ½, down 1 ¼ cents, while January 26 Soybeans are at $10.24 ¼, down 1 cent [5] - March 26 Soybeans are priced at $10.39 ½, down ½ cent [5] Political Context - President Trump indicated he is considering terminating business with China related to cooking oil and other trade elements as a response to China's lack of soybean purchases from the US [2]