CBOT soybeans bounce on US crop quality concerns, Brazil currency strength
SOYB•CBOT November soybean futures rose 2-1/2 cents to $12.80-3/4 per bushel on Monday, supported by concerns about crop quality after Midwest rain, firmer soyoil prices and a stronger Brazilian real.
1. Soybean futures rise
Soybean futures firmed in a technical rebound after three sessions of losses, as recent Midwest rain raised concerns about crop quality. December soyoil gained 0.73 cent to 69.35 cents per pound, while December soymeal fell 40 cents to $347.10 per ton.
2. Harvest and export data
Mostly dry weather is expected in the US Midwest over the next week, with harvesting due to accelerate; some rain is expected in the eastern Midwest and Delta the following week. Analysts polled expected the USDA to report that 29% of the US soybean crop had been harvested as of Sunday. The USDA confirmed private sales of 104,000 metric tons for shipment in the 2026/27 marketing year and said 1,138,416 metric tons were inspected for export last week. In Brazil, farmers had planted 7.3% of the expected 2026/27 soybean area as of Thursday, compared with 9% a year earlier.
