Soybeans extend gains on US yield doubts; wheat ticks lower

National Oilseed Processors Association data showed NOPA members, which account for nearly all soybeans crushed in the U.S., processed 216.647 million bushels of soybeans last month, up 1.1% from June and up 10.7% from July 2025.

Chicago Board of Trade soybean futures finished slightly higher on Tuesday as weather reports and crop data raised concerns about prospects for this year's harvest yields in the U.S. Midwest, analysts said.

Firm crude oil and a wave of Chinese demand for U.S. soybeans also underpinned prices.

Wheat ticked lower after rallying on Monday on escalating tensions in the Black Sea as market players put war disruptions to Black Sea wheat supplies in the rear-view mirror.

"Part of the reason why wheat isn't taking off is because the supply in the Black Sea isn't disappearing. It's piling up at ports. Once the situation does calm down, there's plenty of supply that can move out to world importers," said Randy Place, analyst at Hightower Report.

Weeks of attacks on shipping by Russia and Ukraine have curtailed shipments, including at Russia's main grain export hub of Novorossiysk.

The most-active soybean contract on the Chicago Board of Trade rose 3/4 cent to settle at $12.16-3/4 per bushel. Most-active wheat futures settled 8 cents lower at $6.81-1/4 per bushel, and corn fell 1-1/2 cents to $4.88 per bushel.

Traders are closely watching the Pro Farmer field tour after the U.S. Department of Agriculture cut its corn and soybean yield forecasts last week and following heavy rain that left some Midwest fields soggy.