Soybean futures experienced a modest recovery on Tuesday, with contracts rising between 2.5 to 6.25 cents. The cmdtyView national average cash bean price increased by 3.75 cents to $11.78. Soymeal futures were slightly higher, while soy oil futures fell by 40 to 71 points. This follows the U.S. Crop Progress report from NASS, indicating that 80% of the U.S. soybean crop is blooming as of July 26—6% above the normal rate. However, crop conditions showed a decline, with only 63% rated as good/excellent.
On July 28, China’s state firm Sinograin will auction 504,000 metric tons of imported soybeans. Additionally, Brazilian soybean exports for July are estimated at 12.5 million metric tons, a decrease of 1 million from earlier predictions but still above last year’s numbers. Abiove forecasts the Brazilian soybean crush for 2026 at 63.3 million metric tons, with stocks expected to drop to 6.58 million metric tons.
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