Soybean futures dropped 18 to 20 cents across the board on Tuesday, pressured by weaker soymeal and soy oil, a sharp decline in crude oil, and a wetter weather forecast. The cmdtyView national average cash bean price fell 18 1/4 cents to $11.29, while soymeal futures lost $2.90 to $3.10 and soy oil dropped 62 to 75 points. USDA reported another 132,000 metric tons of 2026/27 soybeans sold to China, and weekly crop progress data showed 88% of the US soybean crop blooming with condition ratings steady at 63% good to excellent. Monthly Census data indicated total soybean exports of 1.917 million metric tons in June, the largest June total in four years, while meal exports hit a record 1.494 million metric tons and bean oil exports fell to 9,319 metric tons.
Wetter forecast and weaker products pressure soybean futures.
Soymeal futures fell $2.90 to $3.10 on weaker demand.
Soy oil dropped 62 to 75 points on weaker demand.
