Soybeans are showing losses of 2 to 6 cents on Tuesday’s midday. There were 86 deliveries issued against July soybean overnight, all by the ADM house account. The cmdtyView national average Cash Bean price is down 5 1/2 cents at $9.84 ¼. Soymeal futures are $0.80/ton lower, with Soy Oil was down 4 points. There were another 473 deliveries against July meal overnight.
USDA reported a private export sale of 144,000 MT of soybean meal to Philippines this morning, with 97,000 MT or 2024/25 and 47,000 MT for 2025/26.
Crop Progress data showed 32% of the US soybean crop looming by Sunday, slightly ahead of the 31% average, with 8% setting pods. Condition ratings were steady at 66% gd/ex, with the Brugler500 index up 1 point to 369.
Commitment of Traders data indicated managed money taking their net long position to just 425 contracts as of Tuesday, a 23,023 contract reduction on the week. In soybean meal, specs were a record net short of 131,938 contracts.
The EU commission estimates EU soybean imports at 14.52 MMT for the 2024/25 MY from July 1, 2024 to June 30, up from 13.2 MMT last year.
Jul 25 Soybeans closed at $10.28 1/2, down 3 1/4 cents,
Nearby Cash was $9.84 1/4, down 5 1/2 cents,
Aug 25 Soybeans closed at $10.25 1/4, down 6 1/4 cents,
Nov 25 Soybeans closed at $10.18 3/4, down 2 cents,
New Crop Cash was $9.70, down 2 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.
