Soybeans are trading with 2 to 3 cent losses early on Tuesday morning. Futures closed the Monday session with contracts down 9 to 10 cents. Preliminary open interest suggested longs exiting the market, dropping 26,541 contracts on Monday. The cmdtyView national average new crop Cash Bean price was down 10 1/2 cents at $9.59 1/4. Soymeal futures were fading lower on Monday, with contracts $1.60 to $2.90. Soy Oil was 1 to 27 points higher on the day.
The Monday afternoon Crop Progress report from USDA showed a total of 76% of the US bean crop blooming, with 41% setting pods. Condition ratings were back up 2% to 70% in good/excellent categories, as the Brugler500 improved 5 points to 378.
Monday morning’s Export Inspections report showed a total of 409,714 (15.05 mbu) of soybeans shipped in the week of 7/24. That is up 8.7% from last week and 0.3% above the same week in 2024. Egypt was the top destination of 154,434 MT, with 75,603 MT headed to Netherlands and 72,432 MT to Mexico. Marketing year shipments are now at 47.2 MMT (1.734 bbu), which is 10.4% above the same period last year.
Aug 25 Soybeans closed at $9.88 3/4, down 10 cents, currently down 2 1/4 cents
Nearby Cash was $9.55, down 10 1/4 cents,
Sep 25 Soybeans closed at $9.92 1/2, down 9 1/2 cents, currently down 2 cents
Nov 25 Soybeans closed at $10.11 1/2, down 9 1/2 cents, currently down 2 1/4 cents
New Crop Cash was $9.59 1/4, down 10 1/2 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.
