Front month soy futures are extending the pullback with another double digit drop thus far for Wednesday. Products are also red this morning, with BO down 3.7% to 4%. Yesterday soybean futures faded 16 to 28 cents on the day in the front months. Red November contracts were bought into the close, ending 21 3/4 off the low for a nickel loss to $13.96 1/2. Meal futures also faded on Tuesday, going home $5.90 to $6.60/ton lower in the front months. Soybean oil prices ended with 0.5% to 0.9% losses of as much as 67 points for the front months.Â
NASS Crop Progress data showed 94% of the 22/23 soybean crop was planted as of 6/19. That is up from 88% last week and now 1ppt ahead of the average pace. Emergence was at 83%, compared to 70% last week and 84% on average. NASS conditions were 68% good/ex for a Brugler500 score of 371. That was down from 375 nationally last week.Â
Barchart adjusted their 22/23 soy production outlook with a 72 mbu increase to 4.515 bbu. That came on a 100k harvest acre boost and a 0.74 bpa bump to 50.23 bpa. At the state level, cmdtyView Bean Yield had NE soybeans at 56.79 bpa, IA at 56.3 bpa, and IL as the highest with 58.3 bpa. At the bottom, ND is estimated at 34.5 bpa.Â
Jul 22 Soybeans  closed at $16.81, down 21 cents, currently down 14 cents
Nearby Cash  was $16.32 3/8, down 22 3/8 cents,
Aug 22 Soybeans  closed at $15.98 1/2, down 23 3/4 cents, currently down 16 1/4 cents
Nov 22 Soybeans  closed at $15.10 1/2, down 27 cents, currently down 21 cents
New Crop Cash  was $14.59 1/2, down 25 1/4 cents,
