Soybean futures fell toward $10.40 per bushel, hitting their lowest level since June 4, as weak demand for soyoil and biodiesel fuel weighed on the market. Despite the price decline, the USDA kept its 2025/26 US soybean supply, usage, and average price forecast unchanged at $10.25 per bushel. Bearish sentiment in soy product markets also pressured futures, with soybean meal and oil prices projected at $310 per short ton and 46 cents per pound, respectively. On the global front, beginning stocks were raised due to reduced soybean crush in China during the prior marketing year. Slight increases in crush forecasts for Pakistan, South Africa, and the UK led to a modest bump in projected global use. However, ending stocks were lifted to 125.3 million tons, primarily due to higher inventories in China. These global adjustments reinforced a cautious tone in the US soybean market, keeping futures under pressure despite steady domestic fundamentals.