Soybeans closed out Tuesday trade with contracts mixed, as September was up a penny and November was unchanged. Soymeal futures were up 60 cents in September and down $1.40 to $2.20 across the rest of the board. Soy Oil was up 2 to 24 points across most contracts.
USDA reported private export sales of 2024/25 soybeans on Tuesday morning, with 132,000 MT to China and 239,492 MT sold to Mexico.
ProFarmer’s annual crop tour showed soybean pod counts (3x3 foot square) at 1,025.89 in South Dakota, above the 1,013 pod count from last year and well above the 3-year average of 960.42. In Ohio, pod counts were 1,229.93 in that same area, down from the 1,252.93 in 2023 but up from the 1,193.31 bpa 3-year average. Average counts from Nebraska and Indiana will be released later today.
Chinese imports in July totaled 9.85 MMT, with 9.12 MMT originating from Brazil and 475,392 MT from the US.
Sep 24 Soybeans closed at $9.57 1/4, up 1 cent,
Nearby Cash was $9.35 5/8, down 3/4 cent,
Nov 24 Soybeans closed at $9.76, unch,
Mar 25 Soybeans closed at $10.09 1/2, down 1/4 cent,
New Crop Cash was $9.18 3/8, up 1/4 cent,
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