Soybean Futures Rise as Strong US Crush Data Signals Robust Demand

Soybean futures on the Chicago Board of Trade (CBOT) gained on Monday, with the most-active contract rising 23-1/2 cents to settle at $12.16 a bushel. The rally was primarily driven by new industry data indicating robust domestic demand for the oilseed and strength in the broader energy markets.

NOPA Report Shows Brisk Processing Pace

Data released by the National Oilseed Processors Association (NOPA) provided a key bullish catalyst for the market. According to the report, NOPA members processed 216.647 million bushels of soybeans in July.

• This figure represents a 1.1% increase from the 214.340 million bushels crushed in June.
• On a year-over-year basis, the crush was up a significant 10.7% from July 2025.

While the daily crush rate dipped slightly to 6.989 million bushels per day from 7.145 million in June, the overall monthly volume points to strong demand for soybean meal and oil, which is supportive for raw soybean prices.

Market Awaits Crop Yield Data

Ad

Beyond the crush data, soybean futures found support from rising crude oil prices, which can increase the appeal of soybean oil as a feedstock for biofuel. Traders are also closely monitoring US weather and crop conditions ahead of key yield reports.

Uncertainty about the final size of the US harvest is high following a recent reduction in the USDA's official yield forecasts. The market is now awaiting results from the Pro Farmer Midwest crop tour this week for on-the-ground assessments. Concerns over potential damage from heavy rains and excess moisture in parts of the Midwest also lent support to prices.

Other Grains Mixed

Corn futures also edged higher, with the CBOT contract gaining 6-1/4 cents to $4.89-1/2 a bushel, influenced by the same yield uncertainties affecting soybeans. Wheat futures, however, retreated as investors took profits following gains last week. The wheat market remains underpinned by ongoing disruptions to grain exports from the Black Sea region.