Soybean futures saw modest gains on Monday, August 8, with contracts increasing by 1 ¼ to 5 ¾ cents. The cmdtyView national average cash bean price rose 3 ½ cents to $11.36 1/4. The USDA reported that 93% of the U.S. soybean crop was blooming and 74% had set pods, surpassing the 5-year average by 5 percentage points. However, condition ratings dipped 1% to 62% good/excellent.
During the week ending August 8, soybean export shipments totaled 399,201 metric tons (14.668 million bushels), 15% higher than the previous week but 26.7% lower than the same week last year. Key destinations included Germany (86,260 MT), Mexico (81,851 MT), and Japan (81,699 MT). The USDA’s upcoming yield forecast is anticipated to be 52.9 bushels per acre, with production estimates at 4.472 billion bushels for the 2025/26 marketing year, 17.9% beneath last year’s levels.
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