Soybean futures trended lower heading into Wednesday’s close, with contracts sliding between 6 ¾ and 9 cents. The cmdtyView national average cash bean price decreased by 7 ¾ cents, settling at $10.58 ¼. In related markets, soymeal futures dropped 70 cents to $2.30 in the nearby contracts, while soy oil futures declined by 82 to 113 points.
Weather forecasts from the NOAA 7-day QPF indicate a precipitation band of 1 to 3 inches extending from Kansas to the southern portions of the Eastern Corn Belt. In contrast, northern Illinois, Nebraska, South Dakota, and much of Iowa are expected to see lighter totals of less than ½ inch.
Market participants are now awaiting Thursday’s Export Sales data. According to a Reuters poll of analysts, 2025/26 soybean sales are projected to fall between 100,000 and 500,000 MT. For the new crop marketing year ending June 18, sales are estimated between 450,000 and 1,000,000 MT. Additionally, soybean meal sales are forecasted in the range of 200,000 to 500,000 MT, while bean oil bookings are expected to remain low, between 0 and 13,000 MT.
Jul 26 Soybeans closed at $11.08 ¾, down 8 ¼ cents.
Nearby Cash was $10.58 ¼, down 7 ¾ cents.
Aug 26 Soybeans closed at $11.16 ¾, down 7 ¼ cents.
Nov 26 Soybeans closed at $11.35, down 6 ¾ cents.
New Crop Cash was $10.69 ¾, down 7 ½ cents.