On July 25, soybean futures closed up by 1.75 cents, with the July contract at $10.57. The cmdtyView Cash Bean price reached $10.13, an increase of 1.5 cents. Soymeal futures exhibited mixed results, with prices varying by as much as $1.70 per ton.
Bloomberg analysts are predicting a 3 million bushel increase in the old crop U.S. soybean carryout, bringing it to 353 million bushels. For the new crop, an increase to 298 million bushels is anticipated. Meanwhile, U.S. soybean planting data from the USDA showed varying progress across states, with a national good/excellent rating of 69% and a slight overall improvement in crop conditions.
In international trade, Brazil’s soybean exports for June are estimated by ANEC at 14.08 million metric tons, an increase of 1.53 million metric tons from the previous week’s projection. U.S.-China trade talks in London reportedly went well, according to Commerce Secretary Lutnick.
