Soybeans are trading with modest Tuesday weakness of 2 to 3 ½ cents at midday. The cmdtyView national average Cash Bean price is down 1 3/4 cents at $10.56. Soymeal futures are down 10 cents to 50 cents higher in the front months, with Soy Oil futures 20 to 40 points higher.
The weekly Crop Progress report from NASS showed 92% of the US soybean crop planted by 6/7, up 4% from normal, with 79% emerged and 8 percentage points faster than normal. Condition ratings were down 1% to 65% gd/ex, with the Brugler500 index down 2 points to 367.
Chinese soybean imports totaled 11.79 MMT in May, which was a 15.3% decline from the same month last year. ANEC estimates the Brazilian soybean exports in June at 14.38 MMT, compared to the 12.36 MMT estimate last month.
Jul 26 Soybeans are at $11.13 1/2, down 2 1/4 cents,
Nearby Cash is at $10.56 1/1, down 1 3/4 cents,
Aug 26 Soybeans are at $11.18 3/4, down 2 1/2 cents,
Nov 26 Soybeans are at $11.32, down 3 1/2 cents,
New Crop Cash is at $10.67 1/2, down 2 3/4 cents,
