On July 26, soybean prices experienced significant gains, with nearby July contracts closing at $11.96 ¾, an increase of 14 ½ cents. The cmdtyView national average Cash Bean price rose by 10 ¼ cents to $11.46. Soy meal futures also saw increases ranging from $2.30 to $3.40, while soy oil futures were up 32 to 83 points. In a notable transaction, the USDA reported a private sale of 105,000 MT of soybean meal to Colombia for the current marketing year.
According to the USDA’s Crop Progress report, as of July 5, 34% of the U.S. soybean crop was blooming, which is 6% above the norm. The report indicated that 9% of the crop has begun to set pods, slightly ahead of average. The overall condition rating is at 64% good/excellent, down 1% from the previous week, with notable deterioration in North Dakota and Ohio, while improvements were reported in several states including Missouri and South Dakota.
Monthly export data highlighted a total of 2.57 MMT (94.42 mbu) of soybeans shipped in May, marking a 72.46% year-over-year increase, though it was down 14.35% from the previous month. Soybean meal exports set a record at 1.572 MMT in May, reflecting a 19.47% increase compared to 2025.
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