Soybeans are trading with contracts 10 to 11 cents higher at Friday’s midday. The cmdtyView national average Cash Bean price is up 10 1/4 cents at $12.14 1/4. Soymeal futures are $2.20 to $2.50, with Soy Oil futures down 92 to 115 points at midday.
The NOAA 7-day QPF shows less than 0.5 inches across much of main soybean growing regions in the next week. MO is the exception with at least an inch expected, with eastern OH seeing 1 to 2 inches. The 8-14 day outlook shows a drier pattern in the first week of August for much of the Dakotas, IA, MN and WI.
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Weekly Export Sales data from USDA has old crop export business accumulated to 41.38 MMT, which is now 100% of the USDA export projection and lags the 101% pace from the last 3 years. Accumulated sales are now 6.136 MMT, which is 135.5% above the same week last year.
Aug 26 Soybeans are at $12.48 1/4, up 10 3/4 cents,
Nearby Cash is at $12.14 1/4, up 10 1/4 cents,
Sep 26 Soybeans are at $12.41 1/2, up 10 1/2 cents,
Nov 26 Soybeans are at $12.54 1/2, up 10 3/4 cents,
New Crop Cash is at $11.96 3/4, up 11 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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