Soybean prices fell on July 26, with most contracts down 20 to 27 cents; the cmdtyView national average Cash Bean price decreased by 24.5 cents to $10.70. Soymeal futures dropped by $3.20 to $7.10, while Soy Oil futures were lower by 123 to 242 points. Additionally, crude oil experienced a loss of $3.11.
In export sales data released on the same day, old crop soybean sales were recorded at 276,852 metric tons (MT), marking a three-week low but still 42.45% higher compared to the same week last year. China was the largest buyer with 74,800 MT, followed by Mexico at 67,400 MT and Indonesia with 53,700 MT. Notably, total soybean exports from Brazil reached 14.825 million MT in May, an increase from the previous year’s 14.099 million MT.
The Buenos Aires Grain Exchange reported that Argentina’s soybean crop is 91.7% harvested, maintaining an estimate of 50.1 million MT.
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