CBOT soybeans end weaker on improved US crop ratings

China's soybean imports rose to 13.55 million metric tons last month, a record high for June, up 10.5% from a year earlier and up 14.9% from May.

The USDA late on Monday rated 65% of the nation's soybean crop in good or excellent condition, up from 64% a week earlier, while analysts on average had expected no change.

Ahead of monthly soybean crushing data due on Wednesday from the National Oilseed Processors Association, traders surveyed by Reuters expected the trade group to report that its members crushed 203.989 million bushels of soybeans in June, down 2.3% from May but up 10.1% from a year ago.

In South America, Brazil's national crop agency, Conab, raised its estimate of the country's 2025/26 soybean crop to 180.57 million metric tons, from its previous forecast of 180.25 million.

Chicago Board of Trade soybean futures declined on Tuesday as a surprise improvement in weekly U.S. crop ratings and slightly less-threatening forecasts for the Midwest crop belt spurred a round of profit-taking, traders said.

• Benchmark CBOT November soybean futures SX26 ended down 3-3/4 cents, or 0.3%, at $11.91 per bushel, retreating from Monday's peak of $12.07-1/4, a near two-month high.
• CBOT August soyoil BOQ6 ended down 0.42 cent, or 0.6%, at 72.40 cents per pound.
• CBOT August soymeal SMQ26 ended up 20 cents, or 0.1%, at $317.40 per short ton.
• Updated weather forecasts moderated some of the heat that had been expected in the western Midwest next week.