Soybean Prices Rise as Rainfall Benefits Loom

Soybeans saw gains of 8 to 12 cents across most contracts on Wednesday, with the cmdtyView Cash Bean price increasing by 10 cents to $10.13 1/2. Soymeal futures rose by $1.50 to $3 per ton, while Soy Oil futures moved up 27 to 36 points.

Rain Forecast and Crop Outlook

Rain is anticipated across much of the U.S. from the Northeast to sections of the Southern Eastern Corn Belt in the coming week. Although crop planting is ahead of schedule, the expected rainfall would be beneficial for crops already in the ground. However, parts of North Dakota, Minnesota, Iowa, and the northern edge of the Eastern Corn Belt are forecasted to experience drier conditions.

Upcoming USDA Export Sales Report

The USDA is set to release its weekly Export Sales report on Thursday morning. Analysts predict old crop soybean sales to range between 100,000 and 300,000 metric tons (MT). Sales for the 2025/26 season are anticipated to be between 90,000 MT and 400,000 MT. Soybean meal sales are expected to fall between 100,000 and 450,000 MT, while soybean oil sales may range from 0 to 32,000 MT.

Market Close on July 25

Jul 25 Soybeans closed at $10.62 3/4, marking an increase of 9 3/4 cents.

Nearby Cash was recorded at $10.13 1/2, an uptick of 10 cents.

Aug 25 Soybeans finished at $10.59, up 8 3/4 cents.

Nov 25 Soybeans closed at $10.52 1/4, which is 11 1/4 cents higher.

New Crop Cash was priced at $9.89 1/4, an increase of 11 1/4 cents.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.