Crop Progress data showed 61% of the US soybean crop had leaves dropping, 1 percentage point ahead of normal. Harvest was 9% complete, in line with average. Crop conditions continue to deteriorate, slipping 2% to 61% gd/ex. The Brugler500 index (using all 5 USDA categories) was down 4 points to 358, now 4 points below the same week last year.

Export Inspection data showed soybean shipments of 484,116 MT (17.79 mbu) during the week ending September 18, down 41.1% from the prior week and 2.9% below the same week last year. Egypt was the top destination with 141,244 MT, followed by Indonesia at 71,942 MT and the United Kingdom at 67,129 MT. Marketing year shipments now total 1.57 MMT (57.68 mbu) in two and a half weeks, 25.9% larger year over year.

AgRural reported that Brazilian soybean planting was 9% complete as of last Thursday. On Monday, Argentina suspended its export tax on soybeans, soybean meal, and oil through the end of October.