Home Markets News Weather

Soybeans Up 3 to 4 Ahead of Reports

« Go Back

Soy futures are 3 to 4 cents higher ahead of the quarterly updates from NASS scheduled for 11 AM CDT. Old crop bean futures were up the most on Monday, with gains of 1 1/2 cents. The new crop futures closed fractionally to a penny higher. Soymeal futures ended the day $1.60 to $1.70/ton lower, with August soymeal setting a new life of contract low @ $283.30/ton. Bean oil futures rallied 37 to 42 points. Traders estimate NASS will show an increase of 1.32 million soybean acres from March’s Planting Intentions. On average the trade is looking for June 1 soy stocks at 1.391 bbu. On June 28, new crop beans were 95% emerged. Soybean blooming was at 14% compared to the average of 11%. Week 26 ratings were up 2 points on the Brugler500 index to 378. WI soybean conditions worsened by 3 points, but they were still the highest rated state with a 405 on the Brugler500 index. KS bean conditions were down the most on the week dropping 9 points to 360. The weekly Export Inspections report showed that just 11.9 mbu of soybeans were shipped on the week ending June 25. Traders estimate USDA will report May bean crush between 180 to 182 mbu on Wednesday. If realized, that would be down 1.5% from April, but still 9.2% above may ’19. The average estimate for bean oil stocks on hand is 2.37b lbs.

--- provided by Brugler Marketing & Management

« Go Back

Real-time Login
     Get Real-time Data
Edit Preferences      Refresh:   On   Off