Beans are trading 1.4% to 2% higher so far with 20 to 28 cent gains. The November contract is just 2c under the session high and working at the strongest quotes since last spring. Soymeal futures are up by $1.80 to $3.40 at midday. Front month Soybean Oil futures are trading nearly 5% in the black through midday with triple digit gains.Â
USDA’s weekly Export Inspections data showed 283,378 MT of soybeans were shipped for the week that ended 7/20. That was up from 160k MT last week but was below the 403k MT from the same week last year. Germany was the week’s top destination. USDA reported the full year bean export total at 50.177 MMT, compared to 53.09 MMT last year. Â
Aug 23 Soybeans  are at $15.27 1/2, up 26 1/2 cents,
Nearby Cash  is at $15.02, up 25 5/8 cents,
Sep 23 Soybeans  are at $14.57 1/4, up 28 1/4 cents,
Jan 24 Soybeans  are at $14.30, up 21 3/4 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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