This morning, USDA reported that old crop soybean sales totaled 271,900 metric tons for the week ending July 10, while net sales for the 2025/26 marketing year were 529,600 metric tons. Both figures were within trade expectations. Combined sales of soymeal from both crop years totaled 530,500 metric tons. Soy oil export sales were 7,900 metric tons — considered market-neutral but well above the four-week moving average. Venezuela and Mexico were the top buyers.

Abiove maintained its estimate for Brazil’s soybean crop at 169.7 million metric tons but raised its crush estimate by 0.3 million metric tons to 57.8 MMT and its export forecast by 0.8 MMT to 109 MMT. Following USDA last week, the Rosario Grains Exchange raised Argentina’s soybean crop estimate by 1 MMT to 49.5 MMT.