As of midday, soybean contracts have dropped between 3 to 5 ¼ cents, with the cmdtyView national average cash bean price at $11.28 ¾, down 5 ¾ cents. Soymeal futures fell by $2.20 to $3.00, while Soy Oil experienced a decline of 30 to 40 points. In a recent update, StoneX projected the 2026 US soybean crop at 53 bushels per acre, totaling 4.47 billion bushels.
Additionally, China’s Sinograin auctioned 501,000 metric tons of imported soybeans, successfully selling 334,000 metric tons at an average price of $594.84 per metric ton. The NOAA’s 7-day forecast predicts rainfall of 1 to 4 inches across parts of Iowa, Missouri, Illinois, Indiana, Wisconsin, Michigan, and Ohio in the coming week.
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