Soybeans Bounce on Tuesday Ratings Slip
Soybeans posted a modest recovery on Tuesday following sharp Monday losses, with contracts up 2 ½ to 6 ¼ cents. The cmdtyView national average Cash Bean price was 3 3/4 cents higher at $11.78. Soymeal futures were $1 to 4.30 higher with front month August and exception, down 50 cents. Soy Oil futures were down 40 to 71 points.
The Monday Crop Progress data from NASS showed 80% of the US soybean crop blooming by 7/26, up 6% from normal, with 47% setting pods and 8 percentage points faster than the 5-year average. Condition ratings were down 3% at 63% gd/ex, with the Brugler500 index dropping 6 points to 363. Improvement was noted in MO (+7) and IN (+1), with NC, MI, and LA also seeing better conditions and AR/TN posting steady ratings on the Brugler500 index. The deterioration was seen in NE (-22), SD (-20), ND (-12), OH/MI/KS (-10), as well as MN/IL (-5), and IA (-3).
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
China state firm Sinograin is auctioning off 504,000 MT of imported soybeans on Friday.
ANEC estimates the Brazilian soybean export total for July at 12.5 MMT, down 1 MMT from their prior estimate last week. That is still just slightly above the 12.257 MMT last year for July. Abiove estimates the Brazilian soybean crush for 2026 at 63.3MMT, a 0.3 MMT increase over the previous number, with exports seen up 1.3 MMT from last month at 115.4 MMT. They estimate stocks to drop to 6.58 MMT, a 1.29 MMT drop from the prior projection.
Aug 26 Soybeans closed at $12.12, up 3 1/2 cents,
Nearby Cash was $11.78, up 3 3/4 cents,
Sep 26 Soybeans closed at $12.04 3/4, up 5 cents,
Nov 26 Soybeans closed at $12.20, up 6 1/4 cents,
New Crop Cash was $11.61 3/4, up 6 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.
More news from Barchart
- Hazardous Heat in the Midwest Is Stoking Corn and Soybean Prices. What to Watch Next.
- Soybean Meal Prices Keep Heading Higher. How to Trade Them at a 9-Week High.
- Soybean Meal Prices Are Rising Amid Global Supply Disruptions. How to Trade the Uptrend Here.
- Soybean Prices Are Set to Challenge Their May High. 1 Trade to Make Here.
