Chicago Board of Trade soybean futures firmed on Tuesday as spillover support from higher corn and wheat markets overshadowed pressure from a jump in U.S. plantings and a larger-than-expected stocks estimate from the U.S. Department of Agriculture, analysts said.
U.S. farmers planted 85.365 million acres of soybeans this year, the USDA said in an annual report on Tuesday. The estimate was up from 81.215 million in 2025 and in line with estimates gathered from analysts ahead of the report.
The USDA pegged June 1 soybean stocks at 1.061 billion bushels, above the average analyst estimate of 1.046 billion bushels.
Hot weather across the U.S. Midwest this week was expected to stress the soybean crop before easing later this week, forecasters said. The USDA on Monday trimmed its estimate of soybeans in good to excellent condition by 1 percentage point.
The most-active CBOT November soybean (SX26) settled 4-3/4 cents higher at $11.43-3/4 a bushel.
CBOT August soymeal (SMQ26) ended 10 cents higher at $303.90 per short ton.
CBOT August soyoil futures (BOQ26) fell 1.93 cents to 66.93 cents per pound.