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Mysteel soybean and relatives market daily: Heat risk exerts support on U.S. soybeans as DCE soymeal tests the Yuan 3,000/tonne level

Source: Mysteel Jul 06, 2026 11:25
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Soybean Soybean Meal Demand Price Supply
Overnight CBOT soybeans continued their range-bound divergence, with the November futures contract edging lower to close at 1144 cents/bushel. The previous bearish factors—USDA's high planted acreage and large quarterly stocks—have been fully priced in, and market focus has shifted to weather conditions during the critical growing period for U.S. soybeans. Persistent high temperatures in the Midwest in the near term are putting pressure on crop condition ratings, though expectations of rainfall and cooler temperatures later this week are providing some support to the futures board. Old-crop U.S. soybean exports remain persistently weak, with weekly net sales falling well below expectations, capping upside potential.

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