Soybean prices have fallen between 8.5 and 15.25 cents across most contracts as of July 26, 2023, with the cmdtyView national average cash bean price down 14.5 cents at $11.31. Soymeal futures have increased by $3.40 to $4.60, while Soy Oil futures are down by 43 to 55 points. The USDA reported a private export sale of 136,000 MT of soybeans for the 2026/27 crop year to China.
In the week of July 2, 2025/26 soybean sales totaled 54,349 MT, slightly exceeding analysts’ expectations. Sales for 2026/27 were more robust, coming in at 408,250 MT, marking the second-largest total for the marketing year. Soymeal sales reached 321,513 MT, while bean oil sales were at 878 MT. Weather forecasts show potential rain in the southern Midwest, with dry conditions persisting in parts of northern states.
The next WASDE report will be released on Friday, and a Bloomberg survey indicates old crop bean stocks may decrease to 337 million bushels, while new crop stocks are anticipated to rise by 22 million bushels due to increased acreage.
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