Soybean futures fell by 9 to 10 ½ cents on Tuesday, while the cmdtyView national average cash bean price rose by 2 1/4 cents to $9.75 1/2. Soymeal futures increased by $2.70, but soy oil futures declined by 156 points. A private export sale reported by the USDA involved 228,606 MT of soybeans sold to Mexico, designated for the 2025/26 season.
According to the USDA’s Crop Progress data, 95% of the U.S. soybean crop was blooming as of Sunday, and 82% was setting pods, consistent with seasonal averages. Current soybean conditions remain stable at 68% rated good/excellent, with the Brugler500 index dropping to 373. The ProFarmer Crop Tour began Monday with findings in Ohio, where pod counts averaged 1,287.28, up 4.66% from last year and 6.84% larger than the three-year average. South Dakota saw a 15.84% increase year-over-year in pod counts at 1,188.45, exceeding the three-year average by 22.51%.
For August, ANEC estimates Brazilian soybean exports at 8.9 million metric tons (MMT), an increase from last week’s estimate of 8.8 MMT.
