Soybeans Close Down Nearly 27¢

July corn ended the day up 3¢ at $4.48½ per bushel.

July soybeans closed down 26½¢ at $10.51¼ per bushel.

July wheat contracts closed higher. CBOT wheat ended the day up 8¢ at $5.32¾ per bushel. KC wheat was up 5¼¢ at $5.28¼. Minneapolis wheat was up 3¢ at $5.80.

Arlan Suderman, chief commodities economist at StoneX, said soybean oil was limit down today and created a drag on soybean demand. He said this was in response to the news that EPA may not set the Renewable Fuel Standard blending requirement for biomass-based diesel as high as the industry requested.

This morning, Suderman explained: “The industry had previously requested that the [biomass-based] diesel production mandate be raised to 5.25 billion gallons, up from 3.35 billion gallons currently. We felt that it would likely come in closer to 4.4–4.6 billion gallons, with a chance that it could approach 5 billion. Traders reacted negatively to rumors that the EPA recommended something closer to 4.6 billion gallons, but all of this is currently just unconfirmed speculation.”

This afternoon, Suderman added that the sharp decline in soybeans today is proof the commodity had previously been doing so well in comparison to corn and wheat because traders were holding out hope for a strong blending requirement. Today’s decline was the beginning of the removal of that premium, he said.

August live cattle ended the day down $3.53 at $205.85 per hundredweight (cwt). August feeder cattle closed down $6.15 at $295.83 per cwt. July lean hogs were up $1.68 at $104.13 per cwt.

A little past 3:30 p.m. CT, July crude oil was down $1.35 at $61.33 per barrel.

June S&P 500 futures were up 28 points. June Dow futures were up 308 points.

Published: 3:50 p.m. CT

Soybeans Down Sharply: 9:59 a.m. CT

Ahead of 9:30 a.m. CT, July corn was up 1¼¢ at $4.46¾ per bushel.

July soybeans were down 22½¢ at $10.55¼ per bushel.

July wheat contracts were higher. CBOT wheat was up 3¢ at $5.27¾ per bushel. KC wheat was up 1¾¢ at $5.24¾. Minneapolis wheat was up 1¼¢ at $5.78¼.

This morning, USDA released the weekly U.S. Export Sales report. Naomi Blohm, senior market advisor with Total Farm Marketing, said net corn sales for 2024/2025 were pegged above expectations, while net sales for 2025/2026 were near the high end of the range of expectations. For soybeans, she said net sales for 2024/2025 were within the range of expectations, and net sales for 2025/2026 were near the high end of the range.

August live cattle were down $2.13 at $207.25 per hundredweight (cwt) ahead of 9:30 a.m. CT. August feeder cattle were down $3.60 at $298.38 per cwt. July lean hogs were down 43¢ at $102.03 per cwt.

July crude oil was down $1.65 at $61.03 per barrel.

The U.S. Dollar Index June contract was down to 100.69.

June S&P 500 futures were down 10 points. June Dow futures were down 74 points.

Published: 9:59 a.m. CT