Soybean futures closed the Wednesday session with contracts down 2 to 7 ¼ cents in the red, led by the nearbys. The cmdtyView Cash Bean price is 10 3/4 cents lower to $10.02 1/2. Soymeal futures were down $1 to 1.70/ton, as Soy Oil was 5 to 23 points higher. 

Forecasts in the next week from NOAA are showing precip for much of the country.

Later on Tuesday, the US and China agreed to a framework deal to ease the tensions between the two countries. Chinese tariffs on US goods are set at 10% for the time being. While no actual trade deal came from the meeting, it is a sign that things are cooling between the two, for now.  

Export Sales data will be out on Thursday morning, as the trade estimates old crop bookings at 100,000-500,000 MT in the week of 6/5. Sales for 2025/26 are seen at 0-200,000 MT. 

Traders surveyed by Bloomberg are looking for an average increase of 3 million bushel to the old crop US soybean carry out to 353 mbu.  For the new crop figure, analysts are looking for a slight increase to 298 mbu. Analysts are not looking for much of a change to the South American numbers, with Brazil seen up 0.3 MMT to 169.3 MMT and Argentina 0.1 MMT higher at 49.1 MMT.

Jul 25 Soybeans  closed at $10.50 1/2, down 7 1/4 cents,

Nearby Cash  was $10.02 1/4, down 10 3/4 cents,

Aug 25 Soybeans  closed at $10.45 1/2, down 4 cents,

Nov 25 Soybeans  closed at $10.29 1/4, down 2 cents,

New Crop Cash  was $9.70 1/4, down 2 1/4 cents,