Soybeans Starting Tuesday with Strength
Soybeans are trading with contracts 11 to 16 cents higher at midday. The cmdtyView national average Cash Bean price is up 15 3/4 cents at $12.41 3/4. Soymeal futures are up $7.10 in the December contract, with Soy Oil futures are trading with contracts 14 to 35 points at midday.
Monthly export data from Census showed 1.465 MMT (53.82 mbu) of soybeans shipped in August, which was down 22.54% from last month and 36.1% below from last year. Soybean meal exports were a record at 1.366 MMT in August.
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The NASS Crop Progress report from Monday indicated 85% of the US soybean crop dropping leaves as of 10/4. Harvest was just 25% complete, now 7 percentage points behind normal. Condition ratings were down 1% to 57% gd/ex, with the Brugler500 index slipping 2 to 350.
Nov 26 Soybeans are at $12.96 1/2, up 15 3/4 cents,
Nearby Cash is at $12.41 3/4, up 15 3/4 cents,
Jan 27 Soybeans are at $13.12 3/4, up 15 1/4 cents,
Mar 27 Soybeans are at $13.22 1/4, up 14 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.
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