Soybeans are down 3 to 4 cents across most contracts on Tuesday. There were another 46 deliveries reported overnight. The cmdtyView national average Cash Bean price down 3 1/2 cents at $9.52 1/4. Soymeal futures are $4.50 to $6.00 higher in the front months. Soy Oil futures are down 48 to 80 points. 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. Progress in the west is lagging, with NE 19% back of the 5-year average, ND 18% back, SD, 16% behind, and IA 3% below average. Condition ratings were down 1% to 64% gd/ex, as the Brugler500 was 1 point lower to 365. By state, MO was down 9, IA slipping 2, SD dropping 8, and OH falling 22 points. Improvement was noted in NE, up 5, with IL up 3.
Canadian canola stocks at the end of July were tallied at 1.597 MMT according to Stats Canada, down 50.5% from the same point last year.
Sep 25 Soybeans are at $10.13 1/2, unch
Nearby Cash is at $9.52 1/4, down 3 1/2 cents,
Nov 25 Soybeans are at $10.30, down 3 3/4 cents,
Jan 26 Soybeans are at $10.49 1/4, down 3 1/2 cents,
New Crop Cash is at $9.52 1/4, down 3 1/2 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.
