Soybeans are experiencing midday losses of 9 to 11 cents on Tuesday, while the cmdtyView national average cash bean price has risen by 3.5 cents to $11.36 1/4. Soymeal futures are down 50 to 70 cents, and soy oil has dropped by 139 points. The USDA reported a private export sale of 136,000 metric tons of soybeans to China for the 2026/27 shipment, along with 180,000 metric tons of soybean meal sold to the Philippines.
As of August 9, the USDA’s Weekly Crop Progress data indicates that 93% of the U.S. soybean crop is blooming, with 74% setting pods—five points ahead of the five-year average. Condition ratings are down 1% to 62% good/excellent. A Reuters survey projects the U.S. soybean yield at 52.9 bushels per acre and a harvested area of 84.564 million acres, resulting in a production estimate of 4.472 billion bushels. Additionally, August Brazilian soybean exports have been raised to 10.88 million metric tons.
The NOAA’s 7-day forecast predicts heavy rains across parts of the Dakotas, Nebraska, Iowa, Illinois, Indiana, and Ohio within the next week.
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