Soybean Futures Edge Up Amid Crop Tour Results, Corn Falls Under Pressure

Soybean futures at the Chicago Board of Trade edged up on Tuesday, but gains were tempered by losses in soyoil. The Pro Farmer crop tour's day one results weighed heavily on values, with Ohio soybean pod counts down nearly seven percent from last year to 1,187.25 per three-by-three-foot square.

The South Dakota leg of the tour saw a pod count of 945.98 for a drop of 20.4 percent from last year. The USDA announced a private sale of 136,000 tonnes of 2026-27 soybeans to China. Soybean conditions were 61 percent good to excellent as of August 16, down one point from the previous week.

Corn futures were slightly lower due to pressure from soy and wheat. The crop tour estimated corn yields in Ohio at 180.18 bushels per acre, down nearly three percent from last year. In South Dakota, yields were pegged at 149.09 bu./ac., dropping 14.4 percent from a year ago.