Weekly NASS Crop Progress data showed that as of September 14, 5% of the US soybean crop had been harvested. Crop condition ratings fell 1% to 63%, with the Brugler500 index down 3 points to 362. Improvements were seen only in Kansas (+3), Nebraska (+2), and Tennessee (+5), while Illinois (-11), Indiana (-7), Iowa (-2), Minnesota (-4), Missouri (-6), North Dakota (-7), and Ohio (-7) all saw declines.  

Rain across the country over the coming week may slow early harvest in the Plains, particularly from Kansas and Missouri up through the Dakotas and Minnesota.  

Abiove estimates Brazil’s 2024/25 soybean crop at 170.3 MMT, with exports left unchanged at 109.5 MMT. Crushing for the marketing year is projected at 58.5 MMT, up 0.4 MMT from the previous estimate. September soybean exports from Brazil are seen at 7.53 MMT, 0.1 MMT higher than last week’s forecast.