Soybeans are showing fractional to penny losses so far on Tuesday morning. Futures eased back lower on Monday, with contracts down 1 to 2 cents on the session. The cmdtyView national average Cash Bean price was up 2 1/4 cents at $9.75 1/2. Soymeal futures were down $1.40 to $3, with Soy Oil futures back up 8 to 33 points.
Crop Progress data from NASS Monday afternoon showed 95% of the US bean crop blooming by Sunday, with 82% setting pods, both even with normal. Soybean conditions were steady at 68% gd/ex, though the Brugler500 index was down another point to 373.
The annual ProFarmer Crop Tour got kicked off on Monday, with the first legs in Ohio and South Dakota. Ohio pod counts averaged 1,287.28, which was 4.66% above last year and 6.84% larger than the 3-year average. Pod counts in South Dakota were up 15.84% from a year ago at 1,188.45, which was also 22.51% above the 3-year average.
Monday’s Export Inspections report showed a total of 473,605 MT (17.4 mbu) of soybeans shipped in the week of 8/14. That is up 16.6% above the same week last year and 13% below the week prior. Egypt was the largest buyer of 126,750 MT, with 109,887 MT shipped to Mexico and 76,141 MT to Taiwan. Marketing year shipments are now at 48.867 MMT (1.795 bbu), which is 11.6% above the same period last year.
Sep 25 Soybeans closed at $10.20 3/4, down 1 1/2 cents, currently down 3/4 cent
Nearby Cash was $9.75 1/2, down 2 1/4 cents,
Nov 25 Soybeans closed at $10.41 1/4, down 1 1/4 cents, currently down 3/4 cent
Jan 26 Soybeans closed at $10.60, down 1 1/2 cents, currently 1 cent
New Crop Cash was $9.66 3/4, down 2 3/4 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.
