Soybeans are trading with 12 cent gains in August, as other contracts are up 4 to 6 cents. Soymeal futures are showing a $3.80/ton pop in the August contract. Soy Oil futures are up 38 points.
Crop Progress data showed 51% of US soybeans were blooming as of July 14, 7% faster than normal. About 18% of the acreage was setting pods on that date, ahead of the average pace by 6%. Soybean condition ratings were unchanged at 68% good/excellent, with a 1% shift from excellent to good, taking the Brugler500 index down 1 point to 370. There was some shifting among the major states, as IL was up 10 points, with ND 8 higher, MO up 3 and IN improving 2. Ratings in IA were down 8 points, with OH deteriorating 13 points, and MN down 4.
Aug 24 Soybeans are at $10.90, up 12 cents,
Nearby Cash is at $10.59, up 14 cents,
Sep 24 Soybeans are at $10.39 1/4, up 5 1/2 cents,
Jan 25 Soybeans are at $10.59 1/2, up 4 1/2 cents,
New Crop Cash is at $9.91 5/8, up 4 3/4 cents,
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