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US Biofuels Update: Soybean Futures Fade Amid Favorable Crop Weather Taking Center Stage

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Biofuels feedstock futures closed mostly lower on Tuesday, as soybean futures faded from early intraday highs.

The Chicago Board of Trade July soybean futures contract closed 0.29% lower on Tuesday at $12.09 per bushel, while the CBOT July soybean oil futures contract settled 0.25% lower at 75.44 cents per pound.

The Nymex June ethanol futures contract settled 0.38% higher on Tuesday at $2.00 per gallon.

Soybean futures remained supported by the weekend's bullish trade ideas but also displayed caution, given healthy reserves at least for the time being and a strong seasonal tendency to hit highs in the late spring or early summer.

Rhett Montgomery, DTN analyst, said the markets are most likely to begin focusing on weather.

"The soybean market was quiet but again well supported on Tuesday, especially in deferred contracts, given the bullish trade volumes outlined by the White House on Sunday are very likely at this point to be a benefit to the 2026 balance sheet over old crop," Montgomery said.

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