Soybeans Extending Collapse to Wednesday, as Forecasts Stays Wet
Soybeans are trading with sharp midday losses of 28 to 31 cents across most contracts as a wetter forecast is pressuring things lower. The cmdtyView national average Cash Bean price is 31 cents lower at $11.47. Soymeal futures are $4.10 to $5.90 lower across the front months, with Soy Oil futures down 125 to 155 points.
The next 7 days are looking for 1 to 2 inches across much of eastern NE and the eastern portions of the Dakotas through MN, WI, IA, IL, IN and HO, with parts of IA north of the Quad Cities getting up to 4 inches.
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Aug 26 Soybeans are at $11.81, down 31 cents,
Nearby Cash is at $11.47, down 31 cents,
Sep 26 Soybeans are at $11.75 1/2, down 29 1/4 cents,
Nov 26 Soybeans are at $11.91 1/2, down 28 1/2 cents,
New Crop Cash is at $11.32 1/4, down 28 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.
