Soybeans Hits 5-week Low

Soybean futures held below $11.7 per bushel, staying near a five-week low as favorable US growing conditions and strong planting progress reinforced expectations of ample supply. Improving weather across key US regions supported crop development, while recent rainfall eased drought concerns in parts of the Plains and reduced earlier planting-delay worries in the Midwest. USDA also reported planting in 18 major states at 87% complete as of late May, ahead of the five-year average, with emergence above normal at 65%, signaling a well-advanced and developing crop. Meanwhile, initial crop condition ratings came in slightly below expectations at 66% good-to-excellent, reflecting mixed regional performance. Export data showed softer weekly shipments, though China remained the top destination. China has reportedly begun placing new orders for the 2026 crop and is expected to fulfill its commitment to purchase around 25 million metric tons, reinforcing expectations of Chinese buying interest.

Soybeans decreased to 1167.00 USd/Bu, the lowest since April 2026. Over the past 4 weeks, Soybeans lost 3.26%, and in the last 12 months, it increased 12.24%.

Soybean futures fell to below $11.8 per bushel, easing from recent multi-year highs to a five-week low as favorable US growing conditions and expectations of ample global supplies weighed on prices. Improved weather across key US crop regions boosted confidence in yield prospects, while recent rainfall helped alleviate drought concerns in parts of the Plains and reduced worries about planting delays in the Midwest. Markets now await the latest USDA crop ratings, with up to 70% of US soybean crops expected to be classified as good to excellent. Further downside came from weak demand in China, the world's largest soybean importer, alongside expectations of strong South American harvests. Large old-crop inventories in the US and profit-taking by funds after the recent rally also added to selling pressure. The decline came despite higher crude oil prices driven by renewed Middle East tensions, as optimism over crop prospects and subdued export demand outweighed support from energy markets.