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Mysteel soybean and relatives market daily: DCE soybean meal M2609 continue its weak trend

Source: Mysteel Jun 05, 2026 15:12
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Soybean Soybean Meal Demand Price Supply
CBOT soybean futures fell for the fifth consecutive session, hitting their lowest level since February, primarily due to favorable weather conditions in the U.S. Midwest promoting crop growth, as well as an approximately 3% decline in oil prices. Rising temperatures and increased rainfall in the Midwest over the next two weeks are expected to provide moisture for newly planted soybeans, putting pressure on the market. Easing tensions in the Middle East have raised hopes for the reopening of the Strait of Hormuz, and the resulting drop in oil prices weighed on soybean prices, as soybeans are a key biofuel feedstock. Overall, favorable weather is boosting prospects for a bumper U.S. soybean crop in 2026. In strong El Nio years, U.S. soybean yields are expected to increase by 123%, while Brazilian yields could decline by 9%.

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