CBOT soybeans end higher as market players position ahead of USDA report

Chicago Board of Trade soybean futures turned higher on Monday after spending most of the session chopping up and down as market players adjusted positions ahead of Wednesday's U.S. Department of Agriculture supply and demand report.

• Analysts surveyed by Reuters on average expect the USDA on Wednesday to lower its forecasts of U.S. 2025-26 and 2026-27 soybean ending stocks.
• Market participants are grappling with the impact of severe July weather on U.S. corn crops, though the return of rain in the past week has eased worries about yield losses.
• The U.S. Department of Agriculture is expected to hold its condition rating for the nation's corn and soybeans steady in a weekly report on Monday after rains and milder temperatures aided Midwest crops in July, according to a Reuters poll of 10 analysts.
• The USDA is expected to hold its soybean condition rating steady for a second straight week at 63% good to excellent, according to the average of analyst estimates.
• August is a more critical month for soybean yield potential, when rains are needed to aid pod filling.
• New-crop November soybeans SX26 ended 3-1/4 cents higher at $11.79-1/2 per bushel.
• CBOT September soymeal SMU26 ended $3.40 lower at $305.50 per short ton and July soyoil BON26 rose 1.29 cents to 69.53 cents a pound.