Soybeans are trading with 2 to 3 cent losses early on Tuesday morning, following a session where futures closed down 9 to 10 cents. Open interest data showed longs exiting the market, dropping 26,541 contracts on Monday. Cash bean prices were down 10 1/2 cents at $9.59 1/4. Soymeal futures and Soy Oil also saw declines and gains, respectively.

The USDA’s Crop Progress report revealed that 76% of the US bean crop is blooming, with 41% setting pods. Condition ratings improved by 2% to 70% in good/excellent categories. The Brugler500 also saw a 5-point increase to 378.

Export Inspections report showed 409,714 (15.05 mbu) of soybeans shipped in the week of 7/24. Shipments were up 8.7% from the previous week and 0.3% above the same week in 2024. Egypt, Netherlands, and Mexico were top destinations. Marketing year shipments are now at 47.2 MMT (1.734 bbu), 10.4% higher than last year.

Soybean prices closed at $9.88 3/4, down 10 cents, with nearby cash at $9.55, down 10 1/4 cents. Sep 25 Soybeans closed at $9.92 1/2, down 9 1/2 cents, while Nov 25 Soybeans were at $10.11 1/2, down 9 1/2 cents. New Crop Cash was at $9.59 1/4, down 10 1/2 cents.

Read more at Yahoo Finance: Soybeans Trading with Tuesday Morning Losses as Ratings Improve