Soybeans are experiencing a decline, with Wednesday morning losses ranging from 6 to 7.5 cents. Key factors include pressure from weaker products and crude oil prices, which fell by $5.20. The cmdtyView national average cash bean price is currently at $11.34. Additionally, open interest dropped by 3,006 contracts, and 137 deliveries were made against August soybeans.
On the export front, the USDA reported a sale of 132,000 metric tons of soybeans to China for the 2026/27 crop year. Crop condition ratings remain steady at 63% good/excellent, according to the latest data from NASS.
StoneX has released its initial estimate for the 2026 US soybean crop, predicting a production of 4.47 billion bushels at a yield of 53 bushels per acre. Monthly Census data showed June soybean exports at 1.917 million metric tons, the highest in four years, despite a 14.35% decline from May.
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