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Soybeans closed mixed on Tuesday, with front months steady to 1 ½ cents higher and deferreds up 1 to down 1 ¼ cents. The cmdtyView national average Cash Bean price was up 1 1/2 cents at $10.66 ¾. Soymeal futures were up $2.10 to $3.10 in the nearbys, with Soy Oil futures back down 32 to 56 points.
Crop Progress data from NASS showed 93% of the US soybean crop emerged by 6/21, up 3% from normal, with 9% blooming and 3 percentage points faster than normal. Condition ratings were steady at 66% gd/ex, with the Brugler500 index up 1 point to 369. Ratings dropped 2 points in IL, with IA down 7, MN slipping 6 points, MI losing 2, ND down 8, and SD losing 3 points. Improvement was noted in IN up 20, with NE 12 points higher, OH up 4 points, with a few other fringe states seeing improved ratings.
On Monday, President Trump indicated unfrozen Iranian funds will be used to buy US ag products, including soybeans. Iranian soybean imports in 2025/26 were 2.15 MMT, and have ranged from 1.55 to 2.8 MMT in the last decade.
ANEC estimates the Brazilian soybean exports in June at 15.21 MMT, a 0.1 MMT drop from their number last week.
Jul 26 Soybeans closed at $11.17, up 1 1/4 cents,
Nearby Cash was $10.66 3/4, up 1 1/2 cents,
Aug 26 Soybeans closed at $11.24, up 1 1/2 cents,
Nov 26 Soybeans closed at $11.41 3/4, up 1/4 cent,
New Crop Cash was $10.76 1/4, up 1/2 cent,
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