According to the NASS Crop Progress report, 94% of the U.S. soybean crop had emerged, with 17% blooming and 3% setting pods — both 1 point ahead of the 5-year average. Crop ratings held steady at 66% good/excellent, while the Brugler500 index rose by 1 point to 368 due to a shift from good to excellent. Among the top 18 states, Arkansas was up 11 points, Louisiana 15, South Dakota 10, and Ohio 2 points. Illinois saw a sharp 14-point drop, Indiana was down 5, and Minnesota declined by 3 points.

The Fats & Oils report released this afternoon showed 203.7 million bushels of soybeans crushed in May — 0.65% more than April and 6.3% higher than the same month last year. Soybean oil stocks totaled 1.876 billion pounds, down 5.06% from the prior month and 14.3% below the same month in 2024.

According to ANEC, Brazil exported 13.93 MMT of soybeans in June, up 0.1 MMT from their previous estimate. StoneX raised its Brazilian soybean crop forecast to 168.75 MMT, an increase of 0.5 MMT from the prior estimate.