Soybeans Fading Back on Tuesday AM Trade, as Conditions Recover
Soybeans Fading Back on Tuesday AM Trade, as Conditions Recover.
Soybeans are trading with 5 to 7 ¼ cent losses early on Tuesday. Futures closed with Monday gains of 4 to 5 ½ cents. Open interest suggested new buying, up 6,710 contracts on Monday. The cmdtyView national average Cash Bean price was up a nickel at $11.50 3/4. Soymeal futures were down $3.20 to $6.30, with Soy Oil futures 148 to 236 points higher. There were 2 deliveries against July soybean meal overnight. July futures expire for the complex at the close.
USDA reported a private export sale of 136,000 MT of soybeans to China on Monday morning for 2026/27.
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Crop Progress data from NASS showed 50% of the US soybean crop blooming by 7/12, up 6% from normal, with 19% setting pods and 6 percentage points faster than normal. Condition ratings were back up 1% at 65% gd/ex, with the Brugler500 index improving 2 to 367.
Monday morning's Export Inspections report showed corn shipments of 418,592 MT (15.38 mbu) in the week of 7/9. That was down 22.8% from the week prior but more than double the same week last year. Egypt was the largest destination of 108,548 MT, with 88,239 MT shipped to Mexico and 65,869 MT headed to China. The marketing year total is now 38.29 MMT (1.407 bbu) of shipments, which is now 17.6% below the same period last year.
Brazil soybean production is seen at 180.57 MMT according to the CONAB data release this morning, up 0.32 MMT from last month. China imported 13.55 MMT of soybeans in June according to the country's trade data.
Jul 26 Soybeans closed at $12.02, up 5 1/2 cents, currently unch
Aug 26 Soybeans closed at $11.96 3/4, up 5 cents, currently down 5 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. This article was originally published on Barchart.com
Sinergia Empresarial continuará el seguimiento de esta información sobre soybeans Fading Back on Tuesday AM Trade, as Conditions Recover y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.
