Soybean prices fell 18 to 20 cents on Tuesday, influenced by weaker product prices, crude oil depreciation, and a wetter forecast. The cmdtyView national average cash price for soybeans is currently $11.29, down 18 1/4 cents. Soymeal futures decreased by $2.90 to $3.10, while soy oil fell by 62 to 75 points. Additionally, 123 deliveries were reported against August soybeans overnight, with 572 for bean oil.
The USDA announced the sale of another 132,000 metric tons of soybeans to China for the 2026/27 period. Weekly Crop Progress data revealed that as of August 2, 88% of the U.S. soybean crop is blooming, with 62% setting pods, outpacing the five-year average by 7 percentage points. Current conditions remain steady at 63% good/excellent.
USDA Fats & Oils data indicated that 217.8 million bushels of soybeans were crushed in June, slightly below the 218.3 million bushel estimate but a 10.61% increase year-over-year. Monthly Census data showed meal exports reached a record 1.494 million metric tons, while bean oil exports dropped to 9,319 metric tons.
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