Soybean futures fell to around $11.50 per bushel, marking a three‑month low, as favorable US growing conditions and strong planting progress bolstered expectations of abundant supply. Improved weather across key producing regions has supported crop development, while recent rainfall has eased drought concerns in parts of the Plains and reduced earlier worries about planting delays in the Midwest.
According to the USDA, planting was 87% complete as of late May, ahead of the five‑year average, with crop emergence at 65%, also above normal—signaling a well‑advanced crop. However, crop condition ratings were slightly weaker than anticipated, with 66% of fields rated good to excellent, highlighting uneven performance across regions.
The export outlook remains subdued. US soybean shipments are projected to decline by about 344 million (units) from fiscal 2025, as China remains a major but inconsistent buyer. Even so, China has reportedly begun placing new orders for the 2026 crop and is expected to honor its commitment to purchase roughly 25 million metric tons.
