Beans are mostly weaker, with fractional gains to 3 3/4 cent losses across the front month contracts. Futures had attempted a turnaround Tuesday earlier in the overnight trade. Current Soymeal quotes are $1.60 lower to $1.10 higher. Front month Soybean Oil futures are trading 5 to 19 points in the black, but are also off their earlier highs. Â
Wire reports suggest Garuda Indonesia is set to test palm-based jet fuel in a live flight. The fuel contains 2.4% palm kernel oil.Â
Barchart’s latest cmdtyView Bean Yield was mostly UNCH at 50.75 bpa for a total 4.39 bbu output.
Weekly Crop Progress data had 83% of the national soybean crop blooming, and 50% setting pods as of 7/30. Bean conditions scored a 340 on the Brugler500 Index, down by 4 points from last week.Â
Pre-report estimates for the US monthly soy crush range from 173.5 to 177 with 175.7 mbu expected on average. If realized that would be a 0.9% increase from June ’22. Soy oil stocks are expected to be 2.207 billion lbs, down from 2.386 billion in May if the average trade estimate is accurate.Â
Aug 23 Soybeans  are at $14.36 3/4, down 9 cents,
Nearby Cash  is at $13.38 3/8, down 59 cents,
Sep 23 Soybeans  are at $13.68, down 2 1/2 cents,
Nov 23 Soybeans  are at $13.27 1/4, down 4 1/2 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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