Soybeans are failing to see much follow through on the smaller acreage number, as stocks were above estimates. Contracts are down 1 to 3 cents in the old crop months, with new crop November up just 1 ¼ cents at midday. There were 200 deliveries issued against July soybeans on first notice day, all issued by the ADM house account. The cmdtyView national average Cash Bean price is down 4 1/2 cents at $9.80. Soymeal futures are trading with 50 cent weaker movement at midday, as Soy Oil is up 10 points. There were 643 deliveries issued against July soybean meal and just 7 for bean oil.

A private export sale of 204,000 MT of soybean meal was reported by the USDA this morning for 2025/26 to unknown destinations.

USDA released their Grain Stocks report this morning, showing 1.007 mbu of soybean stocks on June 1. That was 37 mbu larger compared to the year prior and well above estimates of 974 mbu. The annual Acreage report showed 83.38 million acres of soybeans planted, which was shy of the trade estimates of 83.5 million soybean acres and 115,000 acres below the March Prospective Plantings report.

Export Inspections data showed 224,787 MT (8.26 mbu) of soybeans shipped in the week that ended on June 26, which was up 11.4% from the week prior, but still down 29.7% from the same week last year. Mexico was the top destination of 113,190 MT, with 38,485 MT headed to Japan. Marketing year shipments have totaled 45.851 MMT (1.685 bbu) since September 1, 10.3% larger yr/yr.

Jul 25 Soybeans  are at $10.26 1/4, down 1 1/2 cents,

Nearby Cash  is at $9.80, down 4 1/2 cents,

Aug 25 Soybeans  are at $10.30 1/2, down 2 3/4 cents,

Nov 25 Soybeans  are at $10.26, up 1 1/4 cents,

New Crop Cash  is at $9.73 1/4, down 0 cent,