Soybeans are trading with 4 to 5 cent gains so far on Wednesday morning. They 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 1409.02 in Indiana, above the 1,309.96 pod count from last year and the 3-year average of 1238.55. In Nebraska, pod counts were 1,172.48 in that same area, slightly above the 1,160.02 in 2023 and the 1,150.06 bpa 3-year average.
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, currently up 4 3/4 cents
Nearby Cash was $9.35 5/8, down 3/4 cent,
Nov 24 Soybeans closed at $9.76, unch, currently up 4 cents
Mar 25 Soybeans closed at $10.09 1/2, down 1/4 cent, currently up 4 cents
New Crop Cash was $9.18 3/8, up 1/4 cent,
On the date of publication, Alan Brugler 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 Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
