Soybean futures are trading with 1 to 3 cent gains in the nearby contracts at midday. There were 44 deliveries issued against August soybeans overnight, with 17 sopped by a StoneX client and 27 by an ADM customer. September Soymeal futures are down $2.20/ton. Soy Oil futures are up 29 points in the September contract.
The 7-day forecast provides some rain potential for a chuck of US soybean country, with the 8-14 day showing normal to below normal temps through mid-August and above normal odds for precip.
June crush data will be updated on Thursday, with most expecting to see a drop from May, but an improvement from last year.
Aug 24 Soybeans are at $10.29, up 1 3/4 cents,
Nearby Cash is at $10.05, up 6 1/4 cents,
Nov 24 Soybeans are at $10.23 3/4, up 2 1/2 cents,
Jan 25 Soybeans are at $10.40 1/2, up 2 1/2 cents,
New Crop Cash is at $9.74 1/8, up 2 1/2 cents,
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