Soybean futures are under significant pressure Thursday, with losses of 29 to 31 cents recorded across the board as both soymeal and soy oil add to the decline.
The cmdtyView national average Cash Bean price has fallen 30 and one-quarter cents to $10.64 and one-quarter, reflecting broad weakness across the soy complex.
Soymeal futures are trading $8.50 to $9 lower on the session, while soy oil futures have shed 220 to 250 points, compounding the negative picture for the complex.
Export Sales data released Thursday morning showed old crop business at 276,852 metric tons, landing in the middle of the estimated range of 100,000 to 500,000 metric tons.
That figure represents a three-week low for old crop soybean export sales, though it remains 42.45% above the comparable week from the prior year.
New crop sales for 2026/27 were tallied at 243,000 metric tons, coming in on the higher end of the expected range of 60,000 to 300,000 metric tons.
Bean meal sales were recorded at 231,752 metric tons, edging into analyst estimates calling for between 200,000 and 600,000 metric tons for the week.
Bean oil sales were a negligible 27 metric tons, falling within the estimated range of net reductions of 5,000 to 16,000 metric tons in net sales.
On the supply side, soybean exports out of Brazil totaled 14.825 million metric tons in May, according to trade ministry data, up from 14.099 million metric tons recorded in the same month the prior year.
Weather forecasts are shifting east, with portions of the Eastern Corn Belt expected to receive some precipitation over the next seven days, offering some longer-term support for crop development.
July 2026 soybeans are trading at $11.23 and three-quarters, down 30 and one-quarter cents, while August 2026 contracts sit at $11.27 and one-half, down 30 and three-quarters cents.
November 2026 soybeans, the key new crop benchmark, are at $11.38, down 29 and one-quarter cents, with new crop cash prices at $10.73 and one-half, also down 29 and one-quarter cents.
