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Mysteel soybean and relatives market daily: Accelerated soybean meal stockpiling weighs on bullish sentiment

Source: Mysteel Jun 15, 2026 11:16
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Soybean Soybean Meal Demand Price Supply
Driven lower by falling crude oil prices and favorable weather, U.S. soybean futures edged down and continued to hover near four-month lows, with both soybean oil and soybean meal closing lower during the session. A ceasefire agreement between the U.S. and Iran is imminent, putting downward pressure on international crude oil prices, which in turn dragged on U.S. soybeans due to expectations of reduced biofuel demand. The USDA's monthly report came in relatively neutral, with the only notable adjustment being Argentina's soybean production raised to 50 million metric tons, while other major supply indicators remained largely unchanged from the previous month. Currently, the U.S. soybean crop is off to a good start, with last week's good-to-excellent rating at 65%. Recent rainfall is favorable for crop development in the U.S. Midwest, reducing weather-related concerns while also reinforcing expectations of a bumper U.S. soybean harvest.

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