Soybeans are trading with 14 to 16 cent losses Tuesday’s midday. There were 3 deliveries issued against September beans. The cmdtyView national average Cash Bean price was up 5 3/4 cents at $9.79. Soymeal futures are down $5.30 to $8.20 in the front months. There were another 12 deliveries issued against September meal. Soy Oil futures are 50 to 52 points lower. There were 403 deliveries issued against September bean oil on Friday night.
Export Inspections data showed 472,914 MT (17.38 mbu) of soybeans shipped in the week that ended on August 28, which was up 20.3% from the week prior and 6% below the same week last year. Vietnam was the top destination of 126,247 MT, with 115,769 MT to Mexico. Marketing year shipments have totaled 49.76 MMT (1.828 bbu) since last September, 11.3% larger yr/yr.
CFTC data showed the managed money spec funds in soybean futures and options increasing their small net long position in soybeans by 20,815 contracts to 20,818 contracts as of Tuesday. The commercial net short position was increased by 10,364 contracts to 124,515 contracts as of 8/26.
Monthly crush data will be released this afternoon, as analysts are looking for 207.1 mbu of soybeans crushed during July, with a 204.8 to 212 mbu range of estimates. Bean oil stocks are seen at 1.895 billion lbs.
Sep 25 Soybeans are at $10.22 3/4, down 14 cents,
Nearby Cash is at $9.64 1/2, down 15 1/4 cents,
Nov 25 Soybeans are at $10.39 1/4, down 15 1/4 cents,
Jan 26 Soybeans are at $10.57 3/4, down 14 3/4 cents,
New Crop Cash is at $9.64 1/2, down 10 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.
