Soybean vulnerability persists on Wednesday, reflecting a consistent struggle within the agricultural sector.
Soymeal futures are holding steady, with a minimal decrease of 60 cents at midday, according to the latest market reports. This comes as nearby Cash soybeans also experience losses, currently trading at $9.55 ¼, a decrease of 8 ¾ cents.
The Soybean market is experiencing losses across the board, with contracts down by 8 to 9 cents at midday. This downturn in prices is reflected in the USDA's report of a private export sale of 185,000 MT of soybean meal to the Philippines for the 2025/26 season. However, the specific firm responsible for this sale has not been disclosed in the available sources.
In terms of crop conditions, the US soybean crop has seen a 4% decrease in its rating, now standing at 65%. This information, along with all other data in this article, is for informational purposes only.
Soy Oil futures are also experiencing a decrease, with a drop of 50 to 63 points. There were no deliveries against September meal overnight, but 385 deliveries were issued for September bean oil.
The Brugler500 ratings have fallen 8 points to 366, which is just 1 point above the same week last year. Weekly Crop Progress data shows that 94% of the US soybean crop is setting pods, matching the average, and 11% of the crop is dropping leaves, which is 1 point above normal.
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In conclusion, the Soybean market is currently experiencing losses, with prices down across the board. However, there has been a reported private export sale of soybean meal to the Philippines for the 2025/26 season. Crop conditions have also seen a decrease, with the US soybean crop rating down to 65%.
