Front month soybeans are trading 6 to 13 cents higher in addition to the double digit gains to start the week. November beans have faded 13 cents from their earlier session high. Meal futures are also extending gains from Monday with midday prices up $6.60 to $6.80/ton. Soy oil is backing off, fading the sharp rally to start the week by 74 points at midday.Â
USDA’s weekly Crop Progress report showed 39% of the national soy crop was blooming as of 7/9. That compares to 35% on average. NASS had 10% setting pods, up from 4% last week and 3% points ahead of the average. National conditions were 1% point better with Good/Ex now at 51% for a Brugler500 Index of 339. That is 2 points higher from last week with the Louisianna and NE fields improving the most. Bean conditions in ND fell 10 points from their reading last week on the Brugler500.Â
Aug 23 Soybeans  are at $14.63 1/4, up 7 3/4 cents,
Nearby Cash  is at $14.87 7/8, up 6 7/8 cents,
Sep 23 Soybeans  are at $13.77 1/4, up 11 1/2 cents,
Nov 23 Soybeans  are at $13.52 3/4, up 7 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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