CBOT soybeans firm on US crop quality worries, Brazil currency strength
Chicago Board of Trade soybean futures firmed on Monday, rebounding from recent losses and supported by concerns about U.S. crop quality due to Midwest rain, firmer soyoil prices and a stronger Brazilian real.
CHICAGO, Oct 5 (Reuters) — Chicago Board of Trade soybean futures firmed on Monday in a technical rebound from three sessions of losses and as a recent stretch of rain in the Midwest sparked concerns about crop quality. Firmer soyoil prices and a stronger Brazilian real against the dollar also supported the gains. Soybean harvesting is due to accelerate as mostly dry weather expected in the US Midwest over the next week, forecasters said. Some rain is expected in the eastern Midwest and Delta the following week, they said.
Analysts polled, on average, expect the USDA to report that 29% of the US soybean crop has been harvested as of Sunday. The USDA is due to update its weekly crop progress report later on Monday. The USDA on Monday confirmed private sales of 104,000 metric tons of US soybeans to undisclosed destinations for shipment in the 2026/27 marketing year. The USDA said 1,138,416 metric tons of US soybeans were inspected for export last week, in line with trade estimates.
3% of the expected area of their 2026/27 soybean crop as of last Thursday, compared to 9% a year ago, AgRural said. 80-3/4 per bushel. 10 per ton. 35 cents per pound.
com; +1 313 484 5285)