Soybeans Bounce on Ratings Slip

Soybeans posted a modest recovery on Tuesday following sharp Monday losses, with contracts up 2 ½ to 6 ¼ cents. The cmdtyView national average Cash Bean price was 3 3/4 cents higher at $11.78. Soymeal futures were $1 to 4.30 higher with front month August and exception, down 50 cents. Soy Oil futures were down 40 to 71 points. 

The Monday Crop Progress data from NASS showed 80% of the US soybean crop blooming by 7/26, up 6% from normal, with 47% setting pods and 8 percentage points faster than the 5-year average. Condition ratings were down 3% at 63% gd/ex, with the Brugler500 index dropping 6 points to 363. Improvement was noted in MO (+7) and IN (+1), with NC, MI, and LA also seeing better conditions and AR/TN posting steady ratings on the Brugler500 index. The deterioration was seen in NE (-22), SD (-20), ND (-12), OH/MI/KS (-10), as well as MN/IL (-5), and IA (-3).

China state firm Sinograin is auctioning off 504,000 MT of imported soybeans on Friday.

ANEC estimates the Brazilian soybean export total for July at 12.5 MMT, down 1 MMT from their prior estimate last week. That is still just slightly above the 12.257 MMT last year for July. Abiove estimates the Brazilian soybean crush for 2026 at 63.3MMT, a 0.3 MMT increase over the previous number, with exports seen up 1.3 MMT from last month at 115.4 MMT. They estimate stocks to drop to 6.58 MMT, a 1.29 MMT drop from the prior projection. 

Aug 26 Soybeans  closed at $12.12, up 3 1/2 cents,

Nearby Cash  was $11.78, up 3 3/4 cents,

Sep 26 Soybeans  closed at $12.04 3/4, up 5 cents,

Nov 26 Soybeans  closed at $12.20, up 6 1/4 cents,

New Crop Cash  was $11.61 3/4, up 6 cents,

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