Soybean International News

According to USDA’s NASS Crop Progress report, 62% of the US soybean crop had reached the leaf-drop stage as of September 20. Harvest was 12% complete, ahead of the 8% average pace. The crop rated good to excellent remained steady at 58%, while the Brugler500 index declined 1 point to 352.

The weekly Export Inspections report showed soybean shipments of 759,193 MT (27.9 million bushels) for the week ending September 17. This was up 11.6% from the previous week and 34.2% above the same week last year. China was the largest destination at 446,789 MT, followed by Mexico at 68,773 MT and the Netherlands at 59,652 MT. Marketing-year soybean shipments have now reached 36.848 MMT (1.354 billion bushels), 1.8% above the same period last year.

US Treasury Secretary Bessent met with Chinese officials over the weekend. Traders were putting risk back into the market on Monday in anticipation of this week’s meeting between the leaders of the two countries.

AgRural estimates that 1.2% of Brazil’s soybean crop had been planted as of Thursday, ahead of the 0.9% pace recorded last year.