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US Biofuels Update: Soybean, Soybean Oil Futures Start Short Trading Week Higher

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Biofuels feedstock futures closed higher on Tuesday amid ongoing geopolitical tension.

The CBOT November soybean futures contract closed 0.50 higher on Tuesday at $13.09 per bushel.

The CBOT October soybean oil futures contract settled 0.58% higher at 69.67 cents per pound.

The NYMEX September ethanol futures contract settled 0.72% lower on Tuesday at $2.06 per gallon.

Rhett Montgomery, a DTN analyst, said corn and soybeans were mixed, with traders awaiting the next round of crop scores from USDA and the September supply and demand updates due out on Friday.

"The soybean market held to marginal gains as price action has turned horizontal over the past four sessions, with upside momentum capped at $13.20 resistance. Momentum indicators remain overbought for soybean futures, with $13.00 the first line of support to watch. Harvest is likely to start in limited fashion across the U.S. over the next week or so, which may also cause some pressure on prices as supply temporarily outpaces demand," Montgomery said.

USDA's Weekly Export Inspection Report showed that soybean inspections totaled 15.5 mb for the week ending September 3, 2026. Inspections for the 2025-26 crop year totaled 1.505 bb. Total inspections for 2026-27 are now at 7.7 mb, down 20% from the previous year. USDA is estimating soybean exports to total 1.660 bb in 2026-27, up 9% from the previous year. Soybean inspections are running below USDA's estimated pace at a time when USDA's estimate of soybean ending stocks is 5% larger than the previous five-year average.

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