The soybean market is trading 12 to 23 cents weaker so far, though the November contract is ~1c off the session low for midday. Nearby Soymeal futures are down by $4.10 to $5.30 at midday. Soybean Oil is holding firm so far, with 24 to 42 point gains as the complex outlier.Â
Pre-report estimates for soybean export sales range 75k MT to 300k MT for old crop and from 1 MMT to 2 MMT for new crop. FAS will update the data through 7/27 tomorrow morning.Â
USDA reported June’s soybean crush was 174.53 mbu. That was within the range of expectations, but was below the average trade guess. June crush was up 470k bushels yr/yr, but was below the 189.3 mbu in May. June had 1 less crush day, but at 5.82 mbu/day it was the lowest pace since September ’22. The full season crush reached 1.858 mbu with 2 months left in the reporting season. Soy oil stocks from the Fats and Oils report were 2.203b lbs, down from 2.386 billion in May.Â
Aug 23 Soybeans  are at $14.23, down 23 3/4 cents,
Nearby Cash  is at $13.35 7/8, down 15 1/2 cents,
Sep 23 Soybeans  are at $13.75 3/4, down 11 cents,
Nov 23 Soybeans  are at $13.24 1/2, down 16 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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