Soybean futures rallied on Thursday, with prices up 16 1/2 to 22 cents across the board. The cmdtyView national average cash bean price rose 20 1/2 cents to $10.79 3/4. Soymeal futures gained $1.40 to $4.90 in nearby contracts, while soy oil futures rebounded 129 to 169 points. Limited precipitation is forecast for the first days of July in parts of Nebraska, South Dakota, Iowa, southern Minnesota and Wisconsin, and northern areas of the Eastern Corn Belt, according to the NOAA 7-day QPF. Export sales data showed 455,405 metric tons of 2025/26 soybean sales in the week of June 18, a 12-week high for old crop business and 13.02% larger than the same week last year, with unknown destinations buying 263,100 metric tons. New crop sales hit a marketing year high of 902,159 metric tons, well above the same week last year, led by unknown destinations at 529,000 metric tons and China at 200,000 metric tons. The International Grains Council left its world soybean production estimate for 2026/27 unchanged at 442 million metric tons, with stocks at 76 million metric tons, while 2025/26 stocks were raised by 1 million metric tons to 79 million metric tons.
Drier start to July reduces precipitation in key growing areas, threatening soybean yields.
Soybean rally driven by weather concerns lifts soymeal futures as a derivative.
Soybean rally driven by weather concerns lifts soy oil futures as a derivative.