Soybeans are trading with Thursday gains of 4 to 5 cents. Futures closed out the Wednesday session with contracts up 11 ¼ to 21 ½ cents across most months. Open interest suggested net new buying, up 10,491 contracts. The cmdtyView national average Cash Bean price was up 21 cents at $11.98. Soymeal futures were up $4.70 to $6.80, as Soy Oil was back up 17 to 58 points.
The ProFarmer Crop Tour showed Illinois pod counts in a 3’x3’ square averaging 1,430.37, 3.3% below last year but up 2.93% from the 3 year average. Results for Iowa and Minnesota will be announced later this evening.
Export Sales data will be released this morning, with traders looking for between net reductions of 50,000 to sales of 400,000 MT for old crop soybean sales in the week of 8/13. New crop business is seen 1-1.9 MMT. Soybean meal saels are seen between 150,000 to 500,000 MT, with bean oil bookings between net reductions of 10,000 MT and sales of 10,000 MT.
Sep 26 Soybeans closed at $12.22 1/4, up 21 1/2 cents, currently up 4 cents
Nearby Cash was $11.98 1/1, up 21 cents,
Nov 26 Soybeans closed at $12.37 1/4, up 20 1/2 cents, currently up 4 1/2 cents
Jan 27 Soybeans closed at $12.51 1/4, up 19 3/4 cents, currently up 5 cents
New Crop Cash was $11.80 1/1, up 20 3/4 cents,
