Soybean futures fell on Tuesday, closing down 5 to 6 cents, with the cmdtyView national average Cash Bean price at $9.56 1/4, a decrease of 4 3/4 cents. Soymeal futures dropped $2.20 to $2.70 per ton, while Soy Oil saw an increase of 30 to 43 points. President Trump announced a preliminary trade deal with Indonesia, which includes commitments to purchase $4.5 billion in agricultural products.
Crop Progress data showed an improvement of 4% in soybean ratings, reaching 70%. The Brugler500 index rose 7 points to 376, with significant gains in Illinois (+15) and Missouri (+10). In contrast, ratings in Michigan, South Dakota, and Nebraska declined. NOPA reported 185.7 million bushels of soybeans crushed in June, surpassing trade estimates, marking a 3.69% monthly decrease but a 5.76% annual increase.
July soybean exports from Brazil were estimated at 12.19 million metric tons, an increase of 0.26 million metric tons from the previous week and higher than last year’s figure of 11.25 million metric tons.
