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EconomyJuly 30, 2026 at 12:31 AM

Soybean Prices Drop Amid Midwestern Rain Forecasts and USDA Report

724FinanceDr. Aslıhan Demir

Soybean Prices Drop Amid Midwestern Rain Forecasts and USDA Report

CBOT soybean futures fell 12 to 14 cents on Wednesday amid forecasts of beneficial rains in the US Midwest for August. November soybeans retreated to their lowest level since July 17, with a 13-1/4 cent drop per bushel. The USDA issued a 'good-excellent' rating for the crop, which fell below analysts' average estimates. However, robust export demand helped offset losses in the market. Soybean processor Bunge Global (NYSE:BG) raised its full-year earnings forecast, citing strong processing margins and stable demand. How will markets react to this development? Could soybean price declines trigger broader shifts in global commodity markets?