Soybean prices closed mixed on Tuesday, with the front months steady to 1.5 cents higher and deferred contracts fluctuating between a gain of 1 cent and a loss of 1.25 cents. The cmdtyView national average cash bean price increased by 1.5 cents to $10.66 ¾. Soymeal futures rose between $2.10 and $3.10, while soy oil futures dropped by 32 to 56 points.
As of June 21, 93% of the U.S. soybean crop had emerged, exceeding normal by 3%. Condition ratings remained steady at 66% good/excellent, with a Brugler500 index increase to 369. Notable declines in ratings were recorded in Illinois (down 2 points), Iowa (down 7), and North Dakota (down 8), while improvements were seen in Indiana (up 20 points) and Nebraska (up 12 points).
President Trump announced that unfrozen Iranian funds would be allocated for U.S. agricultural products, including soybeans. Iranian soybean imports are projected at 2.15 million metric tons for the 2025/26 period. Meanwhile, Brazilian soybean exports for June are estimated at 15.21 million metric tons, marking a slight decrease of 0.1 million metric tons from the previous estimate.
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