Soybean futures are falling back 8 ½ to 15 ¼ cents across most contracts, with the cmdtyView national average cash bean price down 14 ½ cents at $11.31 ¾. Soymeal futures are $3.40 to $4.60 higher across most contracts, while soy oil futures are 43 to 55 points lower. USDA reported a private export sale of 136,000 metric tons of 2026/27 soybeans to China and 120,000 metric tons for 2026/27 to unknown destinations. Export sales data for the week of July 2 showed 2025/26 soybean sales at 54,349 metric tons, barely within the range of 50,000 to 500,000 metric tons expected by analysts surveyed by Reuters, while 2026/27 sales were 408,250 metric tons, near the high end of the 150,000 to 500,000 metric ton estimate. Soy meal sales totaled 321,513 metric tons, within the 250,000 to 600,000 metric ton estimate, and bean oil sales were just 878 metric tons. Weather forecasts show 1 to 2 inches of rain mainly south of I-80 covering much of Indiana, Ohio, southern Illinois, and Missouri, while parts of Nebraska, the Dakotas, Minnesota, Iowa, and Wisconsin remain relatively dry, with a drier pattern expected in the 8-14 day outlook. Ahead of Friday's WASDE report, a Bloomberg survey shows old crop bean stocks down 3 million bushels to 337 million bushels, while new crop stocks are seen up 22 million bushels mainly on increased acreage from the June Acreage report.
Falling soybean futures due to dry weather in key growing regions and increased acreage expectations.
Soymeal futures rising on strong export sales data within estimates.
Soy oil futures falling on weak export sales of only 878 metric tons.