Soybeans are falling 18 to 20 cents across the board on Tuesday, pressured by weaker products, crude and a wetter forecast. The cmdtyView national average Cash Bean price is down 18 1/4 cents at $11.29. Soymeal futures were down $2.90 to $3.10, with Soy Oil 62 to 75 points lower. There were 123 deliveies issued against August soybeans overnight, with 0 for soy meal, and 572 for bean oil. Crude oil, down $4.30, is adding pressure.
USDA reported another 132,000 MT of 2026/27 soybean sold to China this morning.
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Weekly Crop Progress data from NASS showed 88% of the US soybean crop blooming by 8/2, with 62% setting pods and 7 percentage points faster than the 5-year average. Condition ratings were steady at 63% gd/ex, with the Brugler500 index unchanged at 363. There was some shifting among the 18 states, with KS/NE dropping 9 points, with MI and MN down 8 and ND slipping 1 point. Improvement was seen in IL/IN/MO (+3), with IA up 2, and OH 5 points higher.
The next week is looking at precip across much of IA, MO, IN, WI, MI, OH and northern IN.
USDA Fats & Oils data from this afternoon showed 217.8 mbu of soybean crushed in June, shy of the 218.3 mbu average estimate. That was up 2.21% from May and 10.61% larger than the same month last year. Bean oil stocks were tallied at 2.096 billion lbs, down 9.45% from last month and 10.7% larger yr/yr.
Monthly Census data showed a total of 1.917 MMT, which was the largest June total in 4 years. That was down 14.35% from the May total. Meal exports in June were a record 1.494 MMT, with bean oil dropping to 9,319 MT.
Aug 26 Soybeans are at $11.49 1/4, down 19 1/2 cents,
Nearby Cash is at $11.29, down 18 1/4 cents,
Sep 26 Soybeans are at $11.55 3/4, down 18 cents,
Nov 26 Soybeans are at $11.73 1/2, down 18 3/4 cents,
New Crop Cash is at $11.13 1/1, down 18 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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