Soybeans Push Higher

Soybeans were busy firming into the close, as contracts settled 3 to 7 ½ cents higher, with nearby August down 3 ¼ cents. The cmdtyView national average Cash Bean price was up 6 cents at $11.47 1/2. Soymeal futures were up 20 cents to $1.20, with Soy Oil 101 to 157 points higher. 

Weekly Crop Progress data from NASS showed 88% of the US soybean crop blooming by 8/2, with 62% setting pods and 7 percentage points faster than the 5-year average. Condition ratings were down steady at 63% gd/ex, with the Brugler500 index unchanged at 363.

USDA’s FGIS tallied soybean export shipments at 343,941 MT (12.64 mbu) during the week ending on July 30. That was 6% below the week prior and 45.3% shy of the same week last year. Indonesia was the top destination of 78,702 MT, with 74,245 MT headed to Mexico and 58,129 MT to Germany. Marketing year exports for 2025/26 are 39.35 MMT (1.446 bbu), which is now 17.8% below the same period last year.

Reports from over the weekend suggest China purchased 14-16 cargoes of US soybeans on Friday. USDA confirmed a bulk of that this morning, with 488,000 MT reported as sold to China for 2026/27 and 136,150 MT to unknown destinations.

USDA Fats & Oils data from this afternoon showed 217.8 mbu of soybean crushed in June, shy of the 218.3 mbu average estimate. That was up 2.21% from May and 10.61% larger than the same month last year. Bean oil stocks were tallied at 2.096 billion lbs, down 9.45% from last month and 10.7% larger yr/yr.

StoneX raised their Brazilian soybean production forecast at 183.1 MMT, which is 0.5 MMT above the previous number. 

Aug 26 Soybeans  closed at $11.68 3/4, down 3 1/4 cents,

Nearby Cash  was $11.47 1/2, up 6 cents,

Sep 26 Soybeans  closed at $11.73 3/4, up 3 cents,

Nov 26 Soybeans  closed at $11.92 1/4, up 4 3/4 cents,

New Crop Cash  was $11.31 1/2, up 3 1/4 cents,

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