CBOT soy ends mixed as traders mull bearish US stocks, bullish acreage data

CHICAGO, June 30 (Reuters) - Chicago Board of Trade soybean futures ended mixed on Monday, with nearby contracts under pressure after quarterly stocks data from the U.S. Department of Agriculture showed larger-than-expected supplies as of June 1, traders said.

• CBOT August soybeans SQ25 settled down 3-1/2 cents at $10.29-3/4 a bushel but the new-crop November contract SX25 ended up 2-1/4 cents at $10.27 a bushel.

• CBOT August soymeal SMQ25 ended up 20 cents at $275.80 per short ton, bouncing after falling to a life-of-contract low at $273.80.

• CBOT August soyoil BOQ25 finished up 0.17 cent at 52.65 cents per pound.

• Nearby soybean futures, including the August SQ25 contract, tumbled after the USDA reported U.S. June 1 soybean stocks at 1.008 billion bushels, up 4% from a year earlier and above an average of analysts' expectations for 980 million bushels.

• But deferred soybean futures, including the benchmark November SX25 contract, found support after the USDA reported U.S. soybean plantings for 2025 at 83.4 million acres, down from its March forecast of 83.5 million acres and down 4% from last year. Analysts surveyed by Reuters on average had estimated soybean plantings at 83.655 million acres.

• Generally favorable U.S. crop conditions capped rallies. Ahead of the USDA's weekly crop progress report due later on Monday, analysts surveyed by Reuters on average expected the government to rate 67% of the U.S. soybean crop in good to excellent condition, up 1% from last week.

• Warm temperatures and scattered showers over the past week were seen as favoring crop growth.

• The USDA reported export inspections of U.S. soybeans in the latest week at 224,787 metric tons, in line with trade estimates for 150,000 to 400,000 tons. USDA/I

• The USDA confirmed private sales of 204,000 tons of U.S. soymeal for delivery in the 2025/26 marketing year that begins October 1, 2025, to undisclosed destinations.

• Ahead of monthly U.S. soy crushing data due from the USDA on Tuesday, analysts surveyed by Reuters on average estimated that U.S. processors crushed 204.7 million bushels of soybeans in May, up 1.1% from April and up 6.8% from May of 2024.

• The CBOT reported 200 deliveries on first notice day against the July SN25 futures contract, which expires on July 14. The exchange reported 643 deliveries against CBOT July soymeal SMN25 futures and seven deliveries against CBOT July BON25 soyoil futures. SOY/DEL MEAL/DEL SBO/DEL