Soybeans are showing 3 to 5 ½ cent lower trade so far on Tuesday morning. Crude oil is a pressure factor, down $3.85 from Friday, as the US and Iran were inching closer to a deal over the weekend, though there is nothing set as of this morning. Futures held higher into the Friday close, as contracts were steady to 2 ¼ cents in the green. July was up 19 ½ cents on the week, with November 17 cents higher. Open interest was up 10,125 contracts on Friday, suggesting modest new buying. The cmdtyView national average Cash Bean price was up 2 cents at $11.33 1/2. Soymeal futures were firm to $3.50 higher on the day, with July slipping $2.40 on the week. Soy Oil futures were 8 to 37 points in the green, as July was up 10 points since the previous Friday.
USDA reported a private export sale of 252,000 MT of soybean meal to unknown destinations on Friday, with 117,000 MT for 2025/26 and 135,000 MT for 2026/27.
