Soybean May '20 (ZSK20)
Soybean Futures Market News and Commentary
Soybeans are trading with 3 to 7 cent losses on Tuesday morning Futures were under pressure from bean oil on Monday, with contracts down 4 to 15 ½ cents across most months, led by the nearbys. Open interest was down 17,019 contracts, suggesting some modest long liquidation. The cmdtyView national average Cash Bean price was down 13 1/2 cents at $11.88 1/2. Soymeal futures were up $2.60 to $6.20 on the day, with Soy Oil falling back 189 to 227 points.
Weekly Crop Progress data from NASS showed 91% of the US soybean crop setting pods by 8/23, with 6% dropping leaves. Condition ratings were down 1% at 60% gd/ex, with the Brugler500 index falling 4 points to 357.
USDA’s FGIS tallied soybean export shipments at 420,895 MT (15.465 mbu) during the week ending on August 20. That was 43% above the week prior and 6.9% larger than the same week last year. Egypt was the top destination of 116,966 MT, with 71,630 MT headed to Indonesia and 60,643 MT to Italy. Marketing year exports f... Read more
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