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US Biofuels Update: Soybean Complex Slips on Seasonal Crop Trends, Weaker Energy Markets

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Biofuels feedstock futures closed lower on Tuesday, as outside energy markets spill into the row-crop markets.

The Chicago Board of Trade November soybean futures contract closed 1.22% lower at $11.77 3/4 per bushel, while the CBOT September soybean oil futures contract settled 0.86% lower at 68.20 cents per pound.

The Nymex September ethanol futures contract settled up 1.03% on Monday at $1.97 per gallon.

Rhett Montgomery, a DTN analyst, said that traders have returned to focusing on seasonals instead of any crop production concern.

"The soybean market fell on Tuesday, setting a new low for the recent selloff from July 24 highs. Despite weather conditions being touch-and-go through late July, national soybean crop ratings have held strong heading into a critical August for development," Montgomery said.

On Tuesday, the US Department of Agriculture reported sales of 132,000 metric tons of soybeans for delivery to China during the 2026/2027 marketing year.

On Monday, China bought a large quantity of US soybeans. USDA announced 488,000 mt of soybeans sold for delivery to China during the 2026/2027 marketing year.

Meanwhile, the US Census Bureau on Tuesday reported that US biodiesel exports totaled 34,507 mt in June, up from 19,448 mt in May and down from 35,081 mt a year ago. Shipments of biodiesel went mostly to Canada, Peru, and Germany.

US soybean oil exports totaled 9,319 mt in June, up from 9,175 mt in May and down sharply from 42,480 mt a year ago. Canada, Mexico, and Panama were the biggest buyers.

In June, ethanol exports totaled 206.1 million gallons, up from 189.7 million gallons in May and up from 172.8 million gallons a year ago. Canada was the biggest buyer of US ethanol, followed by the Netherlands and Colombia.

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