The midday soy market is pushing higher for the last trade day of the week. Soybean Oil futures are leading the way with 1.5% to 1.7% gains of as much as 113 points. The soybeans are trading 0.75% to 1.1% higher so far with double digit gains of as much as 14 ¼ cents. Midday Soymeal quotes are also off their overnight lows with $1.90 to $2.40/ton gains.Â
USDA reported a private export sale of 121k MT of new crop soybeans sold to China this morning. Export Sales data had 365k MT of old crop and 1.952 MMT of new crop soybeans sold during the week that ended 8/17.Â
A southwest Georgia farmer, Alex Harrell has set a new world record for soybean yield, getting a verified 206.7997 bushels per acre on Aug 23. The previous world record of 190.23 bushels per acre was grown in 2019 by another Georgian, Randy Dowdy.
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The fourth day of the Pro Farmer Crop Tour showed an Iowa average soybean pod count at 1,190.41 in a 9 square foot area, a 1.36% increase from last year, and 0.92% above the 3-year average. Â The Tour average for Minnesota was 984.39 pods per square, down a sharp 10.57% from last year and down 8.11% below the 3-year average.Â
Sep 23 Soybeans  are at $13.76 1/4, up 10 1/2 cents,
Nearby Cash  is at $13.72 1/8, up 12 3/8 cents,
Nov 23 Soybeans  are at $13.85 1/4, up 13 1/2 cents,
Jan 24 Soybeans  are at $13.96 3/4, up 13 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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