Soybean Meal Mar '26 (ZMH26)
Soybean Meal Futures Market News and Commentary
Soybeans posted Tuesday losses of 3 to 10 ¾ cents across most contracts, led by the front months. The cmdtyView national average Cash Bean price was down 10 cents at $11.26 1/4. Soymeal futures were 30 to 70 cents lower in the front months and steady to $1 higher in the deferres, with Soy Oil dropping 48 to 102 points.
USDA reported a private export sale of 136,000 MT of soybeans to China this morning for 2026/27 shipment, with 180,000 MT of soybean meal sold to the Philippines.
Weekly Crop Progress data from NASS showed 93% of the US soybean crop blooming by 8/9, with 74% setting pods and 5 percentage points faster than the 5-year average. Condition ratings were down 1% at 62% gd/ex, with the Brugler500 index slipping 2 points at 361. Much of the drop came in ND (-31), with MN/WI (-4), MO/OH (-2), and IA/KS (-1) all seeing some deterioration. Improvement was seen in several states, including IL (+4), IN (+1), MI (+9), NE (+7) and SD (+4).
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