Soybeans are holding on to the day session opening gains after overnight weakness. Trade shot higher at the 8:30 am CDT open with midday gains of 8 to 11 cents so far at midday. The cmdtyView national average Cash Bean price is up 8 cents at $10.84 1/4. Soymeal futures are up $1.80 to $2.10 at midday, with Soy Oil futures 155 to 160 points lower.
The weekly Crop Progress report from NASS showed 95% of the US soybean crop planted by 6/7, up 2% from normal, with 88% emerged and 6 percentage points faster than normal. Condition ratings were back up 1% to 66% gd/ex, with the Brugler500 index up 1 points to 368.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Brazil’s soybean exports in June are estimated at 15.31 MMT according to ANEC, up 0.93 MMT from their previous estimate.
Jul 26 Soybeans are at $11.27 1/4, up 8 cents,
Nearby Cash is at $10.74 1/4, up 8 cents,
Aug 26 Soybeans are at $11.32 1/4, up 8 3/4 cents,
Nov 26 Soybeans are at $11.45 1/4, up 10 1/2 cents,
New Crop Cash is at $10.80 1/2, up 10 1/4 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
- 1 Swing Trade to Make as Soybean Meal Prices Keep Falling
- Soybean Prices Have Likely Hit a Floor. Wait for These Levels and Then Buy.
- Soybean Prices Are Moving Higher. Expect More Upside.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
