By Sunday, NASS reported 21% of the US soybean crop had dropped leaves, 1% behind the normal pace. Progress in the western states is lagging, with Nebraska 19% behind average, North Dakota 18% behind, South Dakota 16% behind, and Iowa 3% below average. Crop condition ratings dropped 1% to 64% good-to-excellent, while the Brugler500 index slipped 1 point to 365. By state, Missouri was down 9 points, Iowa down 2, South Dakota down 8, and Ohio down 22. Improvements were noted in Nebraska (up 5 points) and Illinois (up 3).

The monthly Crop Production report will be released on Friday. Reuters survey projects yields averaging 53.3 bpa, down 0.3 bpa from August. Production is estimated at 4.271 billion bushels, a 21 million bushel reduction if realized.

Canadian canola stocks as of July-end were tallied at 1.597 MMT, down 50.5% from last year. Brazil’s soybean exports are estimated at 7.43 MMT, up 0.68 MMT from last week’s figure, according to ANEC.