Soybean Oil Cash (ZLY00)
Soybean Oil Futures Market News and Commentary
Soybeans rounded out Monday trade with contracts 10 ¼ to 17 ½ cents in the red. Tuesday is first notice day for July futures. The cmdtyView national average Cash Bean price was down 16 1/2 cents at $10.63. Soymeal futures were down 40 cents to $2.30, with Soy Oil futures down 1 to 96 points, as July fell 223 points.
USDA reported a private export sale of 136,000 MT of soybeans to unknown destinations this morning.
Crop Progress data from NASS showed 96% of the US soybean crop emerged by 6/28, up 1% from normal, with 19% emerged and 4 percentage points faster than normal. The crop was also reported at 4% setting pods. Condition ratings were down 1% at 65% gd/ex, with the Brugler500 index falling 4 points to 365.
USDA’s FGIS tallied soybean export shipments at 419,124 MT (15.4 mbu) during the week ending on June 25. That was up 54% from the week prior and 76.7% above the same week last year. Mexico was the top destination of 121,835 MT, with 104,589 MT headed to Japa... Read more
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