Soybeans closed with Thursday gains of 9 ¼ to 15 ¼ cents at the close. The cmdtyView national average Cash Bean price was up 9 1/4 cents at $11.34. Soymeal futures were up $1.10 to $3.80, with Soy Oil futures 86 to 147 points higher.
Export Sales data will be out on Friday, due to the Monday holiday. Trades are looking for old crop bean sales to be between 150,000 and 400,000 MT in the week of 5/21, with new crop seen 0-300,000 MT. Soybean meal sales are estimated to total 250,000 to 800,000 MT, with bean oil sales seen at net reductions of 5,000 to net sales of 16,000 MT.
The forecast in for the next week shows a drier pattern east of the Mississippi River and north of the Ohio River. That covers the ECB and central Corn Belt, which has lagged the normal planting pace.
The Argentina soybean harvest is estimated at 84.6% complete according to the Buenos Aires Grains Exchange.
Jul 26 Soybeans are at $11.94 1/2, up 9 1/4 cents,
Nearby Cash is at $11.34 0/1, up 10 cents,
Aug 26 Soybeans are at $11.96, up 11 1/4 cents,
Nov 26 Soybeans are at $11.94, up 12 1/2 cents,
New Crop Cash is at $11.30 1/2, up 12 3/4 cents,
On the date of publication, Austin Schroeder 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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