Soybeans dropped 5 to 6 cents on Tuesday, with the national average Cash Bean price at $9.56 1/4. Soymeal futures fell $2.20 to $2.70/ton, while Soy Oil rose by 30 to 43 points. President Trump announced a trade deal with Indonesia, involving $4.5 billion in ag products.

Crop Progress data showed a 4% increase in ratings to 70%, with IL leading the improvement by 15 points. NOPA reported 185.7 mbu of soybeans crushed in June, a record for the month. Brazil’s July soybean exports are estimated at 12.19 MMT, up from last year.

Soybean prices closed lower, with Aug 25 at $9.95, Nearby Cash at $9.56 1/4, Sep 25 at $9.87 1/4, Jan 26 at $10.19, and New Crop Cash at $9.53 1/2. The information in this article is for informational purposes only, with no positions in mentioned securities.

Read more at Yahoo Finance: Soybeans Fall on Tuesday