Soybean Futures Fall Despite Strong Export Sales and Shipments
U.S. soybean futures declined on Monday, with near-term contracts dropping up to 7 3/4 cents. November 2026 soybean futures closed down 7 3/4 cents at $12.53 1/2, while national cash prices slipped 8 cents to $11.94 1/4. Soymeal and soy oil futures also traded lower as harvest pressure weighed on agricultural markets.
The price drop occurred even as demand metrics showed strong momentum. Weekly export inspection data reached 2.002 million metric tons, marking an 80.4% increase from the previous week and the highest weekly volume since November 2024. Furthermore, export sales included 114,000 metric tons booked for China and 261,000 metric tons for undisclosed destinations, building on 1.87 million metric tons sold the prior week.
Market participants continue to monitor field activity and international competition. Domestic harvest pace reached 64% completion, trailing historical averages by just one percentage point. Meanwhile, planting in Brazil is moving at a steady pace, reaching 26% in the Center-South region compared to 24% at the same point last year.
Key points
- November 2026 soybean futures fell 7 3/4 cents to settle at $12.53 1/2 per bushel, while cash prices dropped 8 cents to $11.94 1/4.
- Weekly export shipments reached 2.002 million metric tons, an 80.4% week-over-week surge and the highest weekly volume since November 2024.
- U.S. exporters confirmed new sales of 114,000 metric tons of soybeans to China and 261,000 metric tons to unknown buyers.
- U.S. soybean harvest progress rose to 64% complete, narrowing the gap to one percentage point behind normal seasonal trends.
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How we writeDisclaimerQuestions and answers
Why did soybean futures drop despite strong export demand?
Soybean prices fell due to seasonal pressure from ongoing U.S. harvest activity, which offset strong weekly export shipments and fresh private export sales to China.
How much U.S. soybean harvest is complete?
The harvest reached 64% complete according to crop progress data, bringing field work within one percentage point of normal seasonal averages.
What were the latest U.S. soybean export shipment figures?
Weekly export inspections reached 2.002 million metric tons, up 80.4% from the prior week and 25.8% higher than the same week last year.