Soybeans posted gains of 11 ½ to 14 cents across the board on Tuesday. The cmdtyView national average Cash Bean price was up 13 1/4 cents at $12.01. Soymeal futures were steady to $1.10 higher on the day, with Soy Oil back up 39 to 101 points.
USDA reported a private export sale of 132,000 MT of soybeans to unknown destinations this morning.
Weekly Crop Progress data from NASS showed 91% of the US soybean crop setting pods by 8/23, with 6% dropping leaves. Condition ratings were down 1% at 60% gd/ex, with the Brugler500 index falling 4 points to 357. Ratings in ND were down 19 points, with OH/SD (-5) IN(-3), IL/MN/MO (-2), and IA (-1) all seeing weaker conditions.
Agroconsult estimates the Brazilian soybean acreage at 49.2 million hectares (121.58 million acres), slightly above last year.
Sep 26 Soybeans closed at $12.28, up 12 cents,
Nearby Cash was $12.01 1/1, up 13 1/4 cents,
Nov 26 Soybeans closed at $12.37 3/4, up 13 1/2 cents,
Jan 27 Soybeans closed at $12.52 1/4, up 14 cents,
New Crop Cash was $11.80 1/2, up 12 1/2 cents,
