Soybeans are trading with 1 to 2 cent loses so far on Tuesday morning. Contracts rallied off some early Monday steady trade, to close out the session 6 to 7 ¼ cents higher. Preliminary open interest suggested a rotation of ownership, down 223 contracts. There were another 46 deliveries reported overnight. The cmdtyView national average Cash Bean price is up 7 cents at $9.56 3/4. Soymeal futures were $1.00 to $4.20 higher in the front months. Soy Oil futures are steady to 17 points higher. The CME reported another 22 deliveries issued overnight.
NASS tallied 97% of the US soybean crop setting pods by Sunday, with 21% dropping leaves, 1% behind normal. Condition ratings were down 1% to 64% gd/ex, as the Brugler500 was 1 point lower to 365.
USDA tallied soybean export shipments at 452,151 MT (16.6 mbu) during the week ending on September 4, with 203,576 MT for the old crop year and 248,575 MT on the new crop side. That was down 8% from last week but was still 23.78% above the same week last year. Of that total, 134784 MT was headed to Mexico, with 75,160 MT on its way to Indonesia and 58,617 MT to Japan. Marketing year exports for 2024/25 were 49.97 MT according to the FAS data, with the Census data running 48.95 MMT through July, with the weekly inspections data showing 2.116 for August.
Sep 25 Soybeans closed at $10.13 1/2, up 7 cents, currently unch
Nearby Cash was $9.56 3/4, up 7 cents,
Nov 25 Soybeans closed at $10.33 3/4, up 6 3/4 cents, currently down 1 cent
Jan 26 Soybeans closed at $10.52 3/4, up 7 1/4 cents, currently down 1 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.
