Soybeans Stumble on Improved Weather Forecast

Soybean prices took a hit on Monday, dropping by as much as 18.75 cents across the board.

The cmdtyView national average Cash Bean price fell to $11.74.25, down 39.5 cents from the previous day.

Meanwhile, soymeal futures declined by $5.50 to $11.10, while Soy Oil futures dropped by 104 to 287 points.

The decline in soybean prices comes as the USDA reported that 80% of the US soybean crop had bloomed by July 26, exceeding normal expectations and contributing to the downward pressure on prices.