Soybeans Extend Higher on Tuesday
The soybean market closed out the Tuesday session with contracts 4 to 8 cents higher. The cmdtyView Cash Bean price was up 4 ½ cents to $10.25. Soymeal futures were up $1.40 to $3.20/ton. Soy Oil saw a slight pullback, with losses of 9 to 32 points in the nearbys.
The USDA reported a private export sale of 120,000 MT of 2025/26 soybean meal to unknown destinations this morning.
The weekly USDA crop progress report showed a 2% drop in soybean conditions to 66% gd/ex. The Brugler500 index dropped 5 points to 367. Improvement was noted in NE (4), with SD (+3), NC and TN also higher. Ratings dropped in IL and IA (-1), with IN, MO, and ND all 3 points lower.
EU Soybean imports are tallied at 13.58 MMT as of June 15 (since July 1), which is up from the 12.65 MMT in the same period last year. Brazilian soybean exports are projected to total 14.37 MMT in June, above the 14.08 MMT estimate from last week.
Jul 25 Soybeans closed at $10.74, up 4 1/4 cents,
Nearby Cash was $10.25 1/1, up 4 1/2 cents,
Aug 25 Soybeans closed at $10.76 1/4, up 4 1/2 cents,
Nov 25 Soybeans closed at $10.67 3/4, up 7 1/4 cents,
New Crop Cash was $10.14 3/4, 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. For more information please view the Barchart Disclosure Policy here.