Soybeans are trading with losses of 3 to 4 cents early on Wednesday. Futures posted 3 to 10 ¼ cent losses across most contracts on Tuesday. Preliminary open interest dropped 2,226 contracts on Tuesday. The cmdtyView national average Cash Bean price was down 8 3/4 cents at $9.81. Soymeal futures were down $1.30 to $1.90/ton, as Soy Oil was up 4 to 18 points. Another 139 deliveries were issued against July meal futures overnight, taking the total to 4,047 for the month.
Crop Progress data showed 32% of the US soybean crop looming by Sunday, slightly ahead of the 31% average, with 8% setting pods. Condition ratings were steady at 66% gd/ex, with the Brugler500 index up 1 point to 369. Ratings in IL were down 2 points, with OH losing 6 points. Improvement was noted in IN (+3), IA (+6), NE (+7), and SD (+11).
The EU commission estimates EU soybean imports at 14.52 MMT for the 2024/25 MY from July 1 of last year to June 30, up from 13.2 MMT last year.
Jul 25 Soybeans closed at $10.24 1/4, down 7 1/2 cents, currently unch
Nearby Cash was $9.81, down 8 3/4 cents,
Aug 25 Soybeans closed at $10.21 1/4, down 10 1/4 cents, currently down 3 cents
Nov 25 Soybeans closed at $10.17 1/2, down 3 1/4 cents, currently down 3 cents
New Crop Cash was $9.69 3/4, down 3 1/2 cents,
