Soybeans are up 5 to 8 cents in Wednesday trading, with the cmdtyView national average cash bean price rising 6¼ cents to $11.52. Soymeal futures slipped 40 cents to $1 higher, while Soy Oil futures gained 3 to 14 points.
According to NOAA’s 7-day QPF forecast, the next week will remain dry across much of the Western Corn Belt, with only trace rainfall expected in parts of Minnesota, Iowa, Nebraska, Missouri, and the Dakotas. The Eastern Corn Belt may see slightly wetter conditions, with 0.5 to 1.5 inches anticipated in sections of Illinois, Indiana, and Ohio.
NOPA’s June crush data exceeded market expectations, reporting 214.34 million bushels processed—up 15.69% year-over-year and 2.66% above May’s figure compared to the 203.99 million bushels average estimate. Bean oil stocks were recorded at 1.5 billion pounds, below the projected 1.653 billion pounds, marking a 13.51% decline from May but an 8.42% increase from the same period last year.
August 26 Soybeans trade at $11.98½ (+5¾ cents), September 26 Soybeans at $11.88½ (+7¼ cents), November 26 Soybeans at $11.98 (+7 cents), and new crop cash soybeans at $11.33¼ (+7¾ cents).
On the date of publication,
Austin Schroeder did not hold positions in any securities mentioned in this article. All information is provided for informational purposes only.
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