Soybeans are trading with contracts 6 to 8 cents higher across the front months at Tuesday’s midday. The cmdtyView national average Cash Bean price is up 6 1/2 cents at $9.73 1/2. Soymeal futures are up 50 to 80 cents, with Soy Oil futures posting 90 to 100 point gains.
Weekly NASS Crop Progress data indicated a total of 41% of the US soybean crop was dropping leaves by 9/14, with harvest listed at 5%. Condition ratings were 1% lower to 63% as the Brugler500 index dropped 3 points to 362. Just KS (+3), NE (+2), and TN (+5) saw increases in ratings, with IL (-11), IN (-7), IA (-2), MN (-4), MO (-6), ND (-7), and OH (-7) all showing a deteriorating crop.
