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Mysteel soybean and relatives market daily: U.S. soybeans await USDA report guidance; domestic soybean meal trades in a range

Source: Mysteel Sep 09, 2026 11:32
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Soybean Soybean Meal Demand Price Supply
On Tuesday, CBOT soybean futures edged slightly higher after choppy trading, with the benchmark contract holding above 1310 cents per bushel. Persistent hot and dry weather in the key U.S. Midwest production areas continued to fuel yield concerns. The latest USDA Crop Progress report showed that as of the week ending September 6, the U.S. soybean good-to-excellent rating held at 58%, unchanged from the previous week but notably below last year's 65% and the five-year average of 61%. Meanwhile, robust domestic crushing margins in the U.S., medium- to long-term support from biofuel policies, and strong Chinese demand for new-crop U.S. soybean exports collectively provided solid support to the market. The September USDA WASDE report is scheduled for release early Saturday morning, and the market widely expects the report to make significant adjustments to new-crop U.S. soybean yield data. Trading sentiment is likely to turn cautious ahead of the report's release.

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