Soybean Oil Sep '22 (ZLU22)
Soybean Oil Futures Market News and Commentary
Soybeans are falling 18 to 20 cents across the board on Tuesday, pressured by weaker products, crude and a wetter forecast. The cmdtyView national average Cash Bean price is down 18 1/4 cents at $11.29. Soymeal futures were down $2.90 to $3.10, with Soy Oil 62 to 75 points lower. There were 123 deliveies issued against August soybeans overnight, with 0 for soy meal, and 572 for bean oil. Crude oil, down $4.30, is adding pressure.
USDA reported another 132,000 MT of 2026/27 soybean sold to China this morning.
Weekly Crop Progress data from NASS showed 88% of the US soybean crop blooming by 8/2, with 62% setting pods and 7 percentage points faster than the 5-year average. Condition ratings were steady at 63% gd/ex, with the Brugler500 index unchanged at 363. There was some shifting among the 18 states, with KS/NE dropping 9 points, with MI and MN down 8 and ND slipping 1 point. Improvement was seen in IL/IN/MO (+3), with IA up 2, and OH 5 points higher.
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