Soybeans Extend Losses Wednesday Morning, Pressured by Weaker Products and Crude

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Summary · why it matters

Soybean futures are trading 6 to 7.5 cents lower Wednesday morning, extending Tuesday's declines that saw nearby contracts drop as much as 15 cents. Pressure came from weaker soymeal and soy oil, a $5.20 drop in crude oil, and a wetter weather forecast. USDA reported another 132,000 metric tons of 2026/27 soybeans sold to China, while weekly crop progress data held steady at 63% good-to-excellent. StoneX issued its initial 2026 U.S. soybean crop estimate at 53 bushels per acre with production of 4.47 billion bushels. Monthly Census data showed June soybean exports at 1.917 million metric tons, the largest June total in four years but down 14.35% from May, while soymeal exports hit a record 1.494 million metric tons and bean oil exports fell to 9,319 metric tons. China's Sinograin sold 334,000 metric tons of imported soybeans out of a 501,000-metric-ton auction at an average price of $594.84 per metric ton.

Impact on assets 4

Digital Finance & Tokenization▲
Others▼
⛏Soybean Futures
SOYBEAN
▼ NegativeSupplyrelevance

Soybean futures pressured by weaker products, crude drop, and wetter weather forecast.

Off-coverage companies 1

China Grain Reserves Group (Sinograin)i
Private± MixedDemandrelevance

Sinograin sold imported soybeans at auction; impact on company unclear.