Soybeans Extending Strength on Tuesday AM Trade

Market Overview - Soybean prices are experiencing a slight increase of 2 to 3 cents in early trading, supported by product values and positive trade discussions, with contracts closing up 12 to 14 cents [1] - The national average cash bean price has risen by 12 3/4 cents to $9.58 ¼, with November soybean futures averaging a close of $10.17 as the harvest price discovery period approaches [1] Trade and Export Data - USDA reported soybean export shipments at 1.474 million metric tons (MMT) for the week ending October 16, which is 42.9% lower than the same week last year but 44.9% higher than the previous week [2] - Major export destinations included Mexico (221,269 MT), Pakistan (167,380 MT), and Bangladesh (166,271 MT), with additional shipments to Vietnam and Egypt exceeding 160,000 MT [2] - Cumulative exports for the marketing year 2025/26 stand at 5.537 MMT since September 1, reflecting a 30.9% decrease compared to the same period last year [2] Price Movements - November 25 soybeans closed at $10.31 3/4, up 12 1/4 cents, with nearby cash prices at $9.58 1/4, also up 12 3/4 cents [3] - January 26 soybeans closed at $10.50, up 13 1/4 cents, while March 26 soybeans closed at $10.64, up 13 1/4 cents [3]