Market Overview - Soybean futures are experiencing losses of 2 to 4 cents across most contracts, with March futures closing 17 ¾ cents higher last week [1] - The national average Cash Bean price decreased by 4 ¼ cents to $10.67 ¼ [1] - Soymeal futures increased by 70 cents to $1.30, with March up $5.60 last week [1] - Soy Oil futures are down 40 to 47 points, despite March being up 175 points on the week [1] Managed Money Position - CFTC data shows managed money added 94,316 contracts to their net long position, bringing the total to 123,148 contracts as of February 10 [2] Export and Production Data - USDA Export Sales data indicates soybean commitments at 34.572 million metric tons, down 20% year-over-year, representing 81% of USDA's export projection, which is below the 89% pace of the 5-year average [3] - NOPA data is expected to show January crush at 218.5 million bushels, with soybean oil stocks projected at 1.71 billion pounds [3] - AgRural estimates that 21% of the Brazilian soybean crop has been harvested, a decrease from 24% in 2025 [3] Price Summary - March 26 Soybeans closed at $11.33, down 4 ¼ cents, with nearby cash at $10.67 ¼, also down 4 ¼ cents [4] - May 26 Soybeans closed at $11.48 ½, down 3 ¾ cents, and July 26 Soybeans closed at $11.60 ½, down 3 ¼ cents [4]

Group 1 - Soybean contracts are trading down 1 to 2 cents, with the national average cash bean price at $9.68 1/2, down 1 3/4 cents [1] - NOPA data indicates 189.81 million bushels of soybeans were crushed in August, exceeding estimates by over 7 million bushels, marking a 3.01% decrease from July but a 20.13% increase from last year [2] - Soybean oil stocks at the end of August were 1.245 billion pounds, up 9.39% from last year but down 9.7% from July [2] Group 2 - Export Inspections report shows 804,352 metric tons (29.55 million bushels) of soybeans shipped in the week of September 11, a 72% increase from the previous week and 69.7% larger than the same week last year [2] - Managed money has shifted to a net short position of 14,714 contracts, reflecting a move of 26,678 contracts to the short side [3] - Brazil's soybean crop for 2025/26 is estimated to be just 0.12% planted according to AgRural [3]