Soybeans extend rally as US crop concerns mount

• The most-active soybean contract Sv1 on the Chicago Board of Trade (CBOT) rose 0.29% to $12.20-1/4 a bushel by 0132 GMT.
• Wheat Wv1 rose 0.18% to $6.82-1/2 a bushel and corn Cv1 gained 0.31% to $4.89-1/2 a bushel.
• Traders are tracking the Pro Farmer field tour after the U.S. Department of Agriculture cut its corn and soybean yield forecasts last week.
• Pro Farmer scouts found weaker crop prospects in Indiana and Nebraska, with corn yield potential below last year's levels and soybean pod counts also trailing benchmarks.
• The USDA lowered its condition ratings for the nation's corn and soybean crops in a weekly report on Monday, in line with trade expectations, after some rainy weeks in the U.S. Midwest.
• National Oilseed Processors Association data showed NOPA members processed 216.647 million bushels of soybeans last month, up 1.1% from June and up 10.7% from July 2025.
• Grain markets are also monitoring disruptions to Black Sea exports after continued Russian and Ukrainian attacks on shipping, including near Russia's Novorossiysk port.
• Commodity funds were net sellers of soyoil, corn and wheat, traders said on Tuesday. CBOT/FUNDS.

DATA/EVENTS (GMT)

• 0600 UK Core CPI YY Jul
• 0600 UK CPI YY Jul
• 0600 UK CPI Services MM, YY Jul
• 0900 EU HICP Final MM, YY Jul