Soybeans are trading with 13 to 14 cent losses so far on Wednesday Beans posted a modest recovery on Tuesday following sharp Monday losses, with contracts up 2 ½ to 6 ¼ cents. Open interest was down 11,154 contracts on Tuesday, mainly in August ahead of first notice day on Friday. The cmdtyView national average Cash Bean price was 3 3/4 cents higher at $11.78. Soymeal futures were $1 to 4.30 higher with front month August and exception, down 50 cents. Soy Oil futures were down 40 to 71 points.
The Monday Crop Progress data from NASS showed condition ratings down 3% at 63% gd/ex, with the Brugler500 index dropping 6 points to 363. Improvement was noted in MO (+7) and IN (+1), with NC, MI, and LA also seeing better conditions and AR/TN posting steady ratings on the Brugler500 index. The deterioration was seen in NE (-22), SD (-20), ND (-12), OH/MI/KS (-10), as well as MN/IL (-5), and IA (-3).
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The next 7 days are looking for 1 to 2 inches across much of eastern NE and the eastern portions of the Dakotas through MN, WI, IA, IL, IN and HO, with parts of IA north of the Quad Cities getting up to 4 inches.
China state firm Sinograin is auctioning off 504,000 MT of imported soybeans on Friday.
ANEC estimates the Brazilian soybean export total for July at 12.5 MMT, down 1 MMT from their prior estimate last week. That is still just slightly above the 12.257 MMT last year for July. Abiove estimates the Brazilian soybean crush for 2026 at 63.3MMT, a 0.3 MMT increase over the previous number, with exports seen up 1.3 MMT from last month at 115.4 MMT. They estimate stocks to drop to 6.58 MMT, a 1.29 MMT drop from the prior projection.
Aug 26 Soybeans closed at $12.12, up 3 1/2 cents, currently down 13 1/4 cents
Nearby Cash was $11.78, up 3 3/4 cents,
Sep 26 Soybeans closed at $12.04 3/4, up 5 cents, currently down 13 1/4 cents
Nov 26 Soybeans closed at $12.20, up 6 1/4 cents, currently down 13 1/4 cents
New Crop Cash was $11.61 3/4, up 6 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.