Soybeans are showing fractional to 5 cent gains at midday, with new crop leading the charge. The cmdtyView national average Cash Bean price is up 3/4 cents at $11.50 3/4. Soymeal futures are down 80 cents to $1.30, with Soy Oil futures steady to 12 points higher.
The weekly Crop Progress report from NASS showed the US soybean crop at 67% planted by May 17, still well above the 53% average pace for this time of year. Michigan was the only state to be behind the average planting pace. Emergence was at 32% vs. 23% on average.
Brazil’s soybean export estimate from ANEC is 16.1 MMT for May, a 0.1 MMT increase from the previous estimate.
Jul 26 Soybeans are at $12.13 1/2, up 1/2 cent,
Nearby Cash is at $11.50 3/4, up 3/4 cent,
Aug 26 Soybeans are at $12.13, up 2 cents,
Nov 26 Soybeans are at $12.06, up 5 cents,
New Crop Cash is at $11.45 1/2, up 5 cents,
