**Soybean Market Update – July 26, 2023**
Soybean prices saw gains of 4 to 5.5 cents on July 26, with the cmdtyView national average Cash Bean price rising to $11.50 3/4 per bushel. The USDA reported a private export sale of 136,000 metric tons of soybeans to China for the 2026/27 marketing year. Additionally, crop progress data indicated that 50% of the U.S. soybean crop is currently blooming, which is 6% above normal, while 19% has begun setting pods.
In related reports, Monday’s Export Inspections highlighted corn shipments of 418,592 metric tons for the week ending July 9, marking a 22.8% decrease from the previous week but more than double the same week last year. Egypt was the largest destination with 108,548 metric tons, followed by Mexico and China. Overall, total shipments for the marketing year have reached 38.29 million metric tons, which is down 17.6% compared to the same period last year.
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