Soybean futures slipped below $11.80 per bushel, hitting a four-week low as forecasts for favorable weather across the US Midwest pressured prices. Expected rainfall later in the week is seen as well-timed, coinciding with the pod-setting stage of soybean development, when adequate moisture is critical for protecting yield potential. The improved weather outlook reversed some of the support prices had drawn from recent heat-related concerns.
Earlier this week, the USDA cut its good-to-excellent rating for the US soybean crop to 63% from 66%, citing persistent heat stress. On the global front, supply prospects remain ample: Brazil is projected to export a record 115.4 million metric tons of soybeans in 2026.
Still, robust US export demand lent some support to the market. China’s Sinograin plans to auction 500,000 metric tons of imported soybeans—its largest sale since January—to free up storage capacity ahead of new US shipments.
