Soybeans Kicking Off Midweek Trade with Early Strength
Soybeans Kicking Off Midweek Trade with Early Strength.
Soybeans are 7 to 9 ¼ cents higher so far on Wednesday morning. Futures posted Turnaround Tuesday losses of 3 to 6 1/2 cents on the session pulling off early lows. Open interest was up just 1,907 contracts on Tuesday. The cmdtyView national average Cash Bean price was down a nickel at $11.84. Soymeal futures were $2.80 to $3.00 higher, with Soy Oil futures down 45 to 50 points.
Crop Progress data from NASS showed condition improving 1% to 66% gd/ex, with the Brugler500 index up 2 to 369. Deterioration was noted in MO (-1), ND (-4) and SD (-7). Ratings improved in IL (+6), IA (+9), MN (+2), NE (+5), and OH (+4).
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The 7-day QPF from NOAA showed a band of 1 to 2 inches of rain in parts of NE, KS, and MO, as well as OH in the next week. The Dakotas, MN, WI, IA, IL, and IN remain on the drier side, with less than 0.5 inches expected.
Aug 26 Soybeans closed at $12.19 1/2, down 6 1/2 cents, , currently up 9 1/4 cents
Sep 26 Soybeans closed at $12.10 1/2, down 5 cents, , currently up 8 1/2 cents
Nov 26 Soybeans closed at $12.22 3/4, down 3 1/2 cents, , currently up 8 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. This article was originally published on Barchart.com
Sinergia Empresarial continuará el seguimiento de esta información sobre soybeans Kicking Off Midweek Trade with Early Strength y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.
