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US Biofuels Update: Soybean Futures Weaken Due to Favorable Crop Weather

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Biofuels feedstock futures closed mixed on Monday, with the soybeans weaker amid friendly crop-growing weather in the US expected through mid-June.

The Chicago Board of Trade July soybean futures contract closed 0.51% lower at $11.80 per bushel, while the CBOT July soybean oil futures contract settled 1.76% higher at 79.09 cents per pound.

The Nymex July ethanol futures contract settled 0.49% lower on Friday at $2.02 per gallon.

Soybean oil was supported by rising oil prices amid earlier reports that Iran had suspended all negotiations with the US on a peace deal. President Donald Trump later posted on Truth Social that US-Iran talks were progressing at a "rapid pace."

Rhett Montgomery, a DTN analyst, said the soybean market is focused on crop weather. "Soybean traders ignored bullish energy influence on Monday, which had soybean oil futures higher for a fifth straight session and to four-year highs," Montgomery said.

He added that crush premiums continue to surge domestically, with the processing value of meal plus oil now over $5 per bushel above the July futures prices.

The US Department of Agriculture will release its monthly Fats and Oils report on Monday, the analyst said.

On Monday, the USDA reported that soybean export inspections totaled 18.2 million bushels in the week ending May 28, down from the previous week but ahead of the same week in 2025.

To date, soybean inspections total 1.310 billion bushels, down 20% from the same point in 2025. USDA is expecting a 19% decline over the year in total exports.

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