Soybean futures closed with losses of 3 to 4 cents on Tuesday, with the cmdtyView national average Cash Bean price down 4 cents at $9.33 ¼. Soymeal futures were mixed, while Soy Oil futures fell by 57 to 74 points due to declining crude oil prices.
According to Census data, June soybean exports were 1.501 million metric tons (MMT), a 12.07% increase from last year but down 5.93% from May. Soybean meal exports reached a record 1.34 MMT, down 2.71% from May, and bean oil exports dropped to an eight-month low of 42,458 MT, representing an 18.84% decline from June 2024.
Crop Progress data from NASS indicated that soybean conditions decreased by 1% to 69% good/excellent, with the Brugler500 index falling by 3 points to 375. Significant drops were noted in Illinois (-7 points), Nebraska (-5), Missouri (-4), and Iowa (-2), while Indiana and Minnesota saw slight improvements.
