Soybean Sep '20 (ZSU20)
Soybean Futures Market News and Commentary
Soybeans closed the Thursday session mixed, with contracts down 1 ½ to 2 ½ cents lower across the board. The cmdtyView national average Cash Bean price was up 3/4 cents at $11.99 3/4. Soymeal futures were back down 70 cents to $3.20, as Soy Oil posted 48 to 141 point gains.
USDA reported a total of 150,000 MT of 2026/27 soybeans to unknown destinations this morning.
The ProFarmer Crop Tour showed Illinois pod counts in a 3’x3’ square averaging 1,430.37, 3.3% below last year but up 2.93% from the 3 year average. Results for Iowa and Minnesota will be announced later this evening.
Export Sales data from this morning showed old crop bean sales of 85,016 MT in the week of 8/13. That was a 3-week high. The Netherlands was the buyer of 86,300 MT, (with 80,000 MT switched from unknown), as Indonesia purchased 45,100 MT. New crop business was tallied at 1.723 MMT. That was 52.07% above the same week last year but back down 2.09% from the week prior. China was the buyer of... Read more
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Educational and Actionable information using Fibonacci and W.D. Gann analysis.
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