Soybeans Extend Losses Tuesday Morning After Monday's Broad Selloff

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Summary · why it matters

Soybean futures continued to slide Tuesday morning, trading 3 to 5.5 cents lower after Monday's session saw losses of 18.75 to 40.5 cents across the board. The cmdtyView national average cash bean price fell 39.5 cents to $11.74 1/4, while soymeal futures dropped $5.50 to $11.10 and soy oil futures declined 104 to 287 points, pressured further by a $7.40 drop in crude oil. USDA data showed 80% of the U.S. soybean crop blooming as of July 26, six percentage points ahead of normal, with 47% setting pods and condition ratings slipping three points to 63% good to excellent. Weekly export inspections reached 348,850 metric tons, up 9.3% from the prior week but 18.5% below the same week last year, bringing marketing-year shipments to 38.97 million metric tons, down 17.5% year-over-year. China's state-owned Sinograin is set to auction 504,000 metric tons of imported soybeans on Friday.

Impact on assets 3

Others▼ · 3 stocks
⛏Soybean Futures
SOYBEAN
▼ NegativeSupplyrelevance

Soybean futures extend losses due to broad selloff, bearish USDA crop progress (blooming ahead of normal), and weak export inspections.

Off-coverage companies 1

China Grain Reserves Group (Sinograin)Private± Mixed
Supplyrelevance

Sinograin to auction 504,000 metric tons of imported soybeans, which could add supply but impact is unclear.

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