Soybeans are down 5 t 7 ¼ cents across most contracts at midday. There were 349 deliveries issued against August beans by the Bunge house account for first notice day. The cmdtyView national average Cash Bean price is down 9 1/4 cents at $9.21 ¾. Soymeal futures are showing gains of $1.20 to $1.30/ton, with Soy Oil posting losses of 83 to 120 points. The CME delivery report showed 1,026 issued for August soybean meal and 84 for August soybean oil on FND.
Export Sales data from USDA this morning showed 349,164 MT in old crop soybean business, exceeding estimates of 100,000 to 300,000 MT for the week ending on July 24. That was a 3-week high and still exceeds the same week last year. New crop sales totaled 429,457 MT, which was in the middle of analysts looking for between 100,000 to 600,000 MT. That was back up from the week prior, though China has yet to show up.
Bean meal bookings were tallied at 77,129 MT for the current marketing year and 131,966 MT for the next year, with the total at 209,095 MT barely in the range of the expected to total 200,000 to 550,000 MT between the current and next marketing year. Bean oil sales were on the low end of 0-23,000 MT estimates at 2,525 MT for 2024/25 and 558 MT for 2025/26.
Aug 25 Soybeans are at $9.62 1/4, down 5 1/2 cents,
Sep 25 Soybeans are at $9.69, down 6 3/4 cents,
Nov 25 Soybeans are at $9.88 1/2, down 7 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
