Soybeans Posting Tuesday Gains
Soybeans are showing fractional to 5 cent gains at midday, with new crop leading the charge. The cmdtyView national average Cash Bean price is up 3/4 cents at $11.50 3/4. Soymeal futures are down 80 cents to $1.30, with Soy Oil futures steady to 12 points higher.
The weekly Crop Progress report from NASS showed the US soybean crop at 67% planted by May 17, still well above the 53% average pace for this time of year. Michigan was the only state to be behind the average planting pace. Emergence was at 32% vs. 23% on average.
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Brazil’s soybean export estimate from ANEC is 16.1 MMT for May, a 0.1 MMT increase from the previous estimate.
Jul 26 Soybeans are at $12.13 1/2, up 1/2 cent,
Nearby Cash is at $11.50 3/4, up 3/4 cent,
Aug 26 Soybeans are at $12.13, up 2 cents,
Nov 26 Soybeans are at $12.06, up 5 cents,
New Crop Cash is at $11.45 1/2, up 5 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.
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