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Re:

Soybeans Closed Up 10¼¢ on September 12, 2024: November Futures Settlement

November soybean futures settled at $10.10¾ per bushel on September 12, 2024, gaining 10¼ cents during a choppy session around the USDA’s September WASDE.
From TheFinanceBase Team2 min to read
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November 2024 soybean futures settled at $10.10¾ per bushel on Thursday, September 12, 2024, up 10¼ cents from the prior settlement. The gain was rounded to 10¢ in the headline. Trading was choppy during the USDA’s September WASDE release; a higher intraday quote reported that day was not the closing settlement.

What November soybeans settled at

Brownfield Ag News’ closing table lists November soybeans at $10.10¾ per bushel, up 10¼ cents, at the September 12 close. Brownfield’s closing futures report gives the settlement figure. The headline’s “10¢” rounds the reported gain; it is not the precise change.

Why reports show a different price

Dow Jones Newswires reported November soybeans up 1.1% at $10.12¼ per bushel during Thursday trading. That was an intraday quote, not the settlement. Prices moved in both directions after the USDA report, so the two figures describe different moments in a volatile session, rather than conflicting closing prices. The Dow Jones report republished by MarketScreener gives the intraday figure and session context.

What was happening during the session

The USDA released its September World Agricultural Supply and Demand Estimates (WASDE) at 11 a.m. Central Time. Successful Farming described soybeans as having “some impressive moments” after the release but not holding near their highs, and characterized the day’s trade as choppy. Its recap quotes the Commstock Report saying grains traded mostly higher through the session despite it being a USDA report day. Successful Farming’s September 12 recap describes the day’s trading.

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The USDA soybean figures

In its September 13 summary of the USDA report, Barchart said the U.S. soybean yield estimate remained unchanged at 53.2 bushels per acre. It reported production at 4.586 billion bushels, down 3 million bushels from the prior estimate, with harvested area unchanged. Those are report estimates, not forecasts of the futures price. Barchart’s September 13 summary provides those figures.

Other reported influences

Successful Farming’s recap said energy and metals rose, supporting soybean oil, which in turn helped soybeans. It also reported that traders were focused on the WASDE and that a reported Russian missile strike on a Ukrainian grain ship appeared to have little effect on that day’s market focus. These are the recap’s account of market interpretation; the reports do not establish a single cause for the settlement.

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How to read this historical quote

  • Contract: November 2024 soybean futures traded on the Chicago Board of Trade.
  • Settlement: $10.10¾ per bushel, up 10¼ cents on September 12, 2024.
  • Intraday report: $10.12¼ per bushel, up 1.1%, in Dow Jones coverage during the session—not the closing price.
  • Context: The session followed the September WASDE release and included swings in both directions.

These are dated historical market figures, not current quotes or trading guidance.

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