Soybeans are extending the losses to Tuesday’s midday, with contracts 6 to 11 ½ cents lower. The cmdtyView national average new crop Cash Bean price is down 6 1/2 cents at $9.52 1/2. Soymeal futures are continuing with weakness, with contracts down $3.10 to $3.20. Soy Oil is 17 to 27 points higher on the day.
The Monday afternoon Crop Progress report from USDA showed a total of 76% of the US bean crop blooming, with 41% setting pods. Condition ratings were back up 2% to 70% in good/excellent categories, as the Brugler500 improved 5 points to 378. Several fringe states saw a decline, with MN down 4. IL was up 8, with NE 7 points higher, IN and IA up 2 points, with OH and SD up 4
Brazil soybean exports during July ware estimated to total 12.05 MMT according to ANCE, which is down 0.06 MMT from their previous estimate but up from 11.25 MMT last year.
Aug 25 Soybeans are at $9.77 1/4, down 11 1/2 cents,
Nearby Cash is at $9.44 1/4, down 11 cents,
Sep 25 Soybeans are at $9.85, down 7 1/2 cents,
Nov 25 Soybeans are at $10.05, down 6 1/2 cents,
New Crop Cash is at $9.52 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.
