Soybean futures are trading with steady to fractionally higher trade at the midday portion of the Tuesday session. The cmdtyView national average Cash Bean price is unchanged at $9.35 3/4. Soymeal futures are down $2.50 to $3.30 on Tuesday, with Soy Oil futures 2 to 3 points higher.
Crop Progress data showed a total of 61% of the US soybean crop with leaves dropping, 1 percentage point ahead normal. Harvest on par with the average pace at 9% complete. Condition ratings continue to decline, down 2% to 61% gd/ex. The Brugler500 index (using all 5 USDA categories) was down 4 points to 358 and now 4 points below the same week last year. Improvement was noted in IL (+3), MN (+2), and SD (+1). Other states saw some deterioration, with IN an IA down 2, MO down 4, and NE slipping 3.
Overnight, Pakistan importers purchased 180,000 MT of soybeans, with US origin expected. Following the suspension of the Argentina export tax, China has reportedly purchased several cargoes of Argentine beans.
Nov 25 Soybeans are at $10.11, unch,
Nearby Cash is at $9.35 3/4, unch,
Jan 26 Soybeans are at $10.30 3/4, up 1/4 cent,
Mar 26 Soybeans are at $10.47, unch,
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.
