Soybeans came back to close with fractional gains across most front months on Tuesday, despite early weakness. There were 503 deliveries issued overnight. The cmdtyView national average Cash Bean price was up 7 cents at $9.88 3/4. Soymeal futures were down $1.60 to $2.10 on the day, as Soy Oil was up 85 to 125 points. Another 642 contracts were issued for delivery overnight for July bean meal, with just 7 for July bean oil.

The NASS Crop Progress report tallied 94% of the US soybean crop emerged, with 17% blooming and 3% setting pods, both 1 point ahead of the 5-year average pace. Crop ratings were steady at 66% good/excellent, with the Brugler500 index improving 1 point on a shift from good to excellent at 368. Across the 18 major states, AR was up 11, LA 15 points higher, SD up 10 points, SD 9 points improved, and OH up 2. Ratings in IL were down 14 points, with IN dropping 5 and MN 3 points worse.

This afternoon’s Fats & Oils report showed a total of 203.7 mbu of soybean crushed during May, which was a 0.65% increase from April and 6.3% above the same month last year. Stocks totaled 1.876 billion lbs, down 5.06% from the month prior and 14.3% below the same month in 2024. 

Brazilian exports were estimated at 13.93 MMT in June according to ANEC, which was a 0.1 MMT increase from their previous number. StoneX estimates the Brazilian soybean crop at 168.75 MMT, a 0.5 MMT increase from their prior number.

Jul 25 Soybeans  closed at $10.24 3/4, up 1/2 cent,

Nearby Cash  was $9.88 3/4, up 7 cents,

Aug 25 Soybeans  closed at $10.29 3/4, unch,

Nov 25 Soybeans  closed at $10.27 1/4, up 1/4 cent,

New Crop Cash  was $9.79 1/1, up 3 1/4 cents,