Soybean futures tumbled on Wednesday, with front-month contracts leading losses of 13½ to 34 cents. The cmdtyView national average cash bean price dropped 31¾ cents to $11.46¼. Soymeal futures fell $2.50 to $5.00 across the front months, while soy oil futures declined 30 to 159 points. Wet forecasts call for 1 to 2 inches of rain over the next seven days across much of eastern Nebraska, the eastern Dakotas, Minnesota, Missouri, Wisconsin, Iowa, Illinois, Indiana, and Ohio. Traders await Thursday's USDA export data, with weekly sales for the 2025/26 marketing year expected between net reductions of 200,000 metric tons and sales of 300,000 metric tons, and new crop sales seen at 0.7 to 1 million metric tons.
Wet forecasts improve crop conditions, increasing expected supply and pressuring soybean futures.
Soybean meal futures fell as wet weather boosts soybean supply, lowering input costs and meal prices.
Soybean oil futures declined due to increased soybean supply from wet forecasts, pressuring oil prices.