Soybean Prices Drop Amid Market Activity
On July 31, soybeans were trading lower with midday losses of 6 to 9.5 cents per bushel. Cash bean prices rose slightly at $11.40 due to the cmdtyView national average. Soymeal and Soy Oil futures also declined across most contracts by $4–$4.50 and 120–140 points, respectively. The USDA reported a private export sale of 252,000 metric tons (MT) for the 2026/27 crop to unknown destinations. Old crop soybean sales reached 41.682 million MT—meeting 101% of forecasts—and new crop sales hit a four-year high at 7.469 million MT, surpassing last year's pace by over 45%. Additionally, Chinese state firm Sinograin sold nearly half (249,000 MT) of the imported soybeans offered in Friday’s sale. Market participants are also watching for June crush data to be released on Monday. The expected crush volume is around 218.3 million bushels within a narrow range.
Topics: export_sales futures_prices soybeans