Soybeans collapsed on Monday, closing with losses of 24 to 29 cents on Monday. The cmdtyView national average Cash Bean price is down 23 ¼ cents at $9.90 ¾. Soymeal futures were $5.20 to $6.30/ton lower at the close, with Soy Oil was down 61 to 82 points.

Crop Progress data showed 32% of the US soybean crop looming by Sunday, slightly ahead of the 31% average, with 8% setting pods. Condition ratings were steady at 66% gd/ex, with the Brugler500 index up 1 point to 369.

This morning’s Export Inspections report showed a total of 389,364 (14.3 mbu) of soybeans shipped in the week of 7/3. That is up 64.5% from last week and 32.3% above the same week in 2024. Egypt was the top destination of 88,641 MT, with 78,551 MT headed to Indonesia and 71,716 MT to Mexico. Marketing year shipments are now at 46.25 MMT (1.699 bbu), which is 10.5% above the same period last year.

Early on Monday, reports indicated Indonesia has agreed to a deal to buy $34 billion of US goods including, corn soybean, and energy products. President Trump released a statement later in the day, raising the tariffs on Indonesian goods to 32% on August 1.

Commitment of Traders data indicated managed money taking their net long position to just 425 contracts as of Tuesday, a 23,023 contract reduction on the week. In soybean meal, specs were a record net short of 131,938 contracts. 

Rains of half to an inch are expected over much of the Corn Belt this next week, with some localized totals in the 2-inch range. Lighter totals are forecast in northern parts of IN and OH, as well as much of MI, with the western portion of the northern Plains seeing little precip. 

Jul 25 Soybeans  closed at $10.31 3/4, down 24 1/2 cents,

Nearby Cash  was $9.90 3/4, down 23 1/4 cents,

Aug 25 Soybeans  closed at $10.31 1/2, down 24 cents,

Nov 25 Soybeans  closed at $10.20 3/4, down 28 1/2 cents,

New Crop Cash  was $9.72 1/4, down 28 1/4 cents,