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GRAINS-Ample supply pushes soybeans below $10 a bushel
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GRAINS-Ample supply pushes soybeans below $10 a bushel
Jul 13, 2025 6:51 PM

CANBERRA, July 14 (Reuters) - Chicago soybean futures

fell on Monday below $10 a bushel for the first time in three

months, as favourable weather bolstered expectations for a large

U.S. harvest and a rise in inventories.

Corn and wheat futures also moved lower, with markets

rattled by an increase in tariff threats by U.S. President

Donald Trump.

FUNDAMENTALS

* The most active soybean contract on the Chicago Board of

Trade (CBOT) was down 0.3% at $10.04-1/2 a bushel, as of

0126 GMT, after dipping to $9.98-1/4, its lowest since April 9.

* CBOT corn was down 0.7% at $4.09-1/4 a bushel and

wheat was 0.3% lower at $5.43-1/4 a bushel.

* The U.S. Department of Agriculture (USDA) on Friday

projected U.S. ending stocks for 2025-26 at 310 million bushels,

up from its previous estimate of 295 million bushels and above

analyst expectations for 302 million bushels.

* The USDA trimmed the outlook for U.S. soybean production

to 4.335 billion bushels from 4.340 billion bushels, but traders

think yields will rise if weather conditions remain favourable.

* A large U.S. harvest would follow a bumper crop in rival

exporter Brazil.

* Consultants Safras & Mercado predicted that Brazil would

plant a larger area with soybeans in September, leading to

record production in the 2025/26 season.

* Supporting soybeans is increased use of soyoil to make

biofuel. The USDA said fuel makers would consume more than half

of all soybean oil produced in the United States next year as

federal policy transforms the sector.

* Speculators are however betting that CBOT soybean prices

will fall.

* In other crops, France's wheat and barley harvests remain

well ahead of their usual pace, while maize crop conditions have

declined again after a sweltering start to summer, farm office

FranceAgriMer said.

* Russia's wheat export tax will remain zero for a second

consecutive week, the Agriculture Ministry said, which should

stimulate exports.

MARKETS NEWS

* Losses in Wall Street futures dragged Asian stocks lower

on Monday as the latest round of threats in the U.S. tariff wars

kept investors on edge, though the fallout was limited by hopes

this was mainly bluster by President Donald Trump.

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