Soybean futures opened Tuesday with losses of 5 to 7 ¼ cents, following gains of 4 to 5 ½ cents on Monday. The USDA reported a private export sale of 136,000 metric tons of soybeans to China for the 2026/27 marketing year. As of July 12, 50% of the U.S. soybean crop is blooming, 6% above the norm, with 19% setting pods, 6 percentage points faster than normal. Current soybean cash prices stand at $11.50 3/4, an increase of 5 cents.
In related data, the Export Inspections report showed corn shipments of 418,592 metric tons for the week ending July 9, a 22.8% decrease from the previous week but over double from the same week last year. The total marketing year shipments now reach 38.29 million metric tons, down 17.6% year-over-year. Brazil’s soybean production is estimated at 180.57 million metric tons, a slight rise from last month.
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