Soybeans are down by 27 to 33 cents with losses of as much as 2.7% to start the short week. That has futures printing new lows for the move, with November contracts working at levels not seen since November 2021. Soymeal futures are trading 1.4% to 1.6% lower. Soybean oil prices are sharply lower with losses of as much as 4.9% through midday. Crude Oil futures are at their lows for the day with 4.3% losses of $3.
USDA’s weekly Export Inspections report showed 8.81 mbu of soybeans were shipped during the week that ended 5/25. That was down 41% from the same week last year but was up from 6.1 mbu last week. The season’s total export reached 1.780 bbu as of 5/25. That is 2.2% behind last year’s pace.
Jul 23 Soybeans are at $13.09 3/4, down 27 1/2 cents,
Nearby Cash is at $12.86 1/2, down 28 5/8 cents,
Aug 23 Soybeans are at $12.28 3/4, down 32 1/4 cents,
Nov 23 Soybeans are at $11.59 1/4, down 30 1/4 cents,
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 Barchart Disclosure Policy here.
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