Soybeans are coming out of the Juneteenth holiday, with contracts down 13 to 15 cents so far at midday. Soymeal futures are down $5.50/ton in the July contract. Soy Oil futures are shrugging off early strength, with July down 19 points at midday.
July options expire on Friday. Heavy open interest for the calls is around the 1260 strike at 14,153 contracts, and the 1180 strike for the puts at 10,044 contacts.
Chinese soybean futures at Dalian were up 0.26% Wednesday while the US market was closed. Chinese imports during May were at 10.2 MMT, with 8.8 MMT coming in from Brazil and just 1.27 MMT to the US.
Jul 24 Soybeans are at $11.59 1/2, down 14 1/2 cents,
Nearby Cash is at $11.06 1/4, down 13 1/2 cents,
Aug 24 Soybeans are at $11.42, down 14 cents,
Nov 24 Soybeans are at $11.17 1/4, down 14 3/4 cents,
New Crop Cash is at $10.60 3/4, 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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