Overnight (CBOT) soybean futures closed higher on Tuesday, with the benchmark November contract up 4.75 cents at $11.4375 per bushel, a gain of 0.4%, following gains in corn and wheat. In the early morning hours of July 1, Beijing time, the USDA released its Planting Acreage report and Quarterly Grain Stocks report: 2026 U.S. soybean planted area was estimated at 85.365 million acres, above the March figure of 84.70 million acres and largely in line with market expectations; as of June 1, total U.S. soybean stocks stood at 1.061 billion bushels, up 5.3% year-over-year and above the forecast of 1.046 billion bushels. The data were overall bearish but had already been priced in by the market. Following the report's release, a "sell the rumor, buy the fact" effect emerged, with short covering driving a rebound in prices.