The soybean market is on the lower side of unchanged at midday, with contracts 1 to 7 centas in the red, led by the nearbys. The cmdtyView Cash Bean price is down 1 3/4 cents to $10.11. Soymeal futures are down 90 cents/ton, as Soy Oil is 4 points lower in the nearbys. 

USDA’s Export Inspections report indicated a total of 547,040 MT (20.1 mbu) of soybeans shipped in the week that ended on 6/5. That was up 81.5% from the previous week more than double the same week in 2024. Mexico was the largest destination of 103,691 MT, with 92,759 MT headed to Japan, and 90,485 MT to Egypt. Marketing year shipments have totaled 45.19 MMT (1.66 bbu) with since September 1, which is up 11.5% compared to the same week last year.

Analysts are looking for soybean conditions to be up 1 percentage point this afternoon to 68% gd/ex. 

US Treasury Secretary Bessent, USTR Greer, and Commerce Secretary Lutnick are meeting Chinese counterparts today in London for trade talks.

CFTC's Commitment of Traders report from Friday afternoon showed money managers in soybean futures and options cutting back 28,096 contracts from their net long position to just 8,601 contracts as of Tuesday. Commercials parred their net short position back by 32,487 contracts to 143,487 contracts. 

Chinese soybean imports totaled 13.92 MMT in May, which was more than double the April total and above the 10.22 MMT from May 2024.

Jul 25 Soybeans  are at $10.55 1/2, down 1 3/4 cents,

Nearby Cash  is at $10.11, down 1 3/4 cents,

Aug 25 Soybeans  are at $10.47 1/4, down 3 1/2 cents,

Nov 25 Soybeans  are at $10.30 1/2, down 6 1/2 cents,

New Crop Cash  is at $9.72, down 6 1/4 cents,