Soybean futures slip 5 to 7 1/4 cents in early Tuesday trade as crop conditions improve
AI Market Summary
US soybean futures weakened as USDA Crop Progress showed faster-than-normal development and improving condition ratings, easing near-term supply concerns. CONAB's higher Brazil output estimate and strong China June imports reinforce ample global availability, offsetting a reported 2026/27 export sale to China. With weather improving and supply expectations loosening, sentiment in soybeans and meal turns softer despite mixed product spreads.
Impact level
● Medium
Affected assets
NCCOSOYBEANS2USD/USDT+0.26%
AI Insight · NCCOSOYBEANS2USD/USDTAI Insight
▼ Bearish
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U.S. soybean futures fell 5 to 7 1/4 cents early Tuesday after USDA Crop Progress data showed the crop was developing faster than normal, with 50% blooming and 19% setting pods as of 7/12. The good-to-excellent rating edged back up to 65%. Brazil’s soybean output estimate was raised to 180.57 MMT, while China reported 13.55 MMT of soybean imports in June. A 136,000 MT export sale to China for 2026/27 was reported, but improved weather and looser supply expectations set the near-term tone.
