International Soybean Market
08-Jul-2025 08:15 AM
International Soybean Market
As of Sunday, Crop Progress data showed 32% of the US soybean crop was blooming, slightly ahead of the 31% average, with 8% setting pods. Crop condition ratings remained steady at 66% good/excellent, while the Brugler500 index rose by 1 point to 369.
Export Inspections data for the week ending July 3 reported soybean shipments at 389,364 MT (14.3 million bushels), up 64.5% from the previous week and 32.3% above the same week in 2024. Egypt was the top destination at 88,641 MT, followed by Indonesia with 78,551 MT, and Mexico with 71,716 MT.
Cumulative marketing year soybean shipments stand at 46.25 million metric tons (1.699 billion bushels), up 10.5% from the same period last year.
On Monday, reports emerged that Indonesia had agreed to purchase $34 billion worth of US goods—including corn, soybeans, and energy products. However, later that day, President Trump announced a 32% tariff on Indonesian goods starting August 1.
Commitment of Traders data showed managed money reducing their net long position in soybeans to just 425 contracts as of Tuesday, a weekly decline of 23,023 contracts. Speculators also held a record net short position of 131,938 contracts in soybean meal.
Forecasts indicate rainfall of half to one inch across much of the Corn Belt in the coming week, with some areas seeing up to 2 inches. Northern Indiana and Ohio, as well as much of Michigan and the western part of the northern Plains, are expected to see lighter rainfall totals.