Soybeans Hold At Lowest since February

Soybean prices fluctuated around $12 per bushel, remaining close to their lowest marks since early February as traders awaited the USDA's crucial acreage and quarterly grain stocks reports due on June 30. These highly anticipated publications will provide indicators for the upcoming US seasonal supply, with initial market estimates leaning toward a slightly reduced planting area. In addition to the government data, the market is closely tracking hot US weather conditions that have sparked immediate crop health concerns. Investors are also monitoring Chinese demand for signs of sustained momentum. This renewed interest is being scrutinized in the wake of the May summit between Presidents Donald Trump and Xi Jinping, as participants look for evidence of further bulk purchases to support pricing trends.

Soybean futures traded around $11.2 per bushel, hovering near four-month lows, pressured by lower crude oil prices and a stronger US dollar, while hot US weather raised crop concerns. The National Weather Service forecast temperatures nearing 100 degrees Fahrenheit this weekend, extending as far north as the upper Midwest and as far east as the Carolinas. These elevated temperatures are expected to stretch from the Plains to the Atlantic Coast through July 4. Meanwhile, hopes in ongoing US-Iran peace talks and improved shipping activity through the Strait of Hormuz has raised expectations of stronger global oil supply, pushing crude oil prices lower. Soybeans often track crude oil due to its use as a biofuel feedstock. Additional pressure came from a stronger dollar amid mounting bets on US rate hikes this year, making commodities more expensive for foreign buyers. Traders now look for signs of renewed Chinese demand, following 132,000 tons of US soybeans sold last week.

Soybeans decreased to 1100.00 USd/Bu, the lowest since February 2026. Over the past 4 weeks, Soybeans lost 6.58%, and in the last 12 months, it increased 8.33%.