Soybeans are mixed at midday, with front months down 1 to 3 cents and new contracts up 1 to 2 cents. The cmdtyView national average Cash Bean price is down 2 1/2 cents at $10.68 ½. Soymeal futures are down $1.30, with Soy Oil futures back up 115 to 147 points.
The weekly Export Inspections report showed soybean shipments of just 241,045 MT (8.86 mbu) in the week of 6/18. That was up 54.8% from the week prior but 54.8% below the same week last year. Mexico was the largest destination of 72,877 MT, with 69,508 MT shipped to China and 27,399 MT to Indonesia. Shipments for the marketing year are now at 36.848 MMT (1.354 bbu) of soybeans, which is 19.3.01% below the same period last year.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
The NOAA 7-day forecast shows portions of eastern NE, IA, northern IL/IN, and OH with limited precip in the next week. The Dakotas through KS are seen with 1 to 2 inch totals, as well as the southern portions of the ECB, with MO seen with heavier totals.
Jul 26 Soybeans are at $11.20, down 2 3/4 cents,
Nearby Cash is at $10.68 1/2, down 2 1/2 cents,
Aug 26 Soybeans are at $11.26 3/4, down 1 1/2 cents,
Nov 26 Soybeans are at $11.44 3/4, up 2 cents,
New Crop Cash is at $10.78 1/2, up 1 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
- Corn and Soybean Bulls Are Limping into the Critical Growing Month of July. Weather’s Not on Their Side.
- Ignore the Bounce. Cotton Prices Are Still Headed Lower.
- Why Soybean Meal Is a Value Buy Here as Prices Rebound
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
