Soybeans are holding on to the day session opening gains after overnight weakness. Trade shot higher at the 8:30 am CDT open with midday gains of 8 to 11 cents so far at midday. The cmdtyView national average Cash Bean price is up 8 cents at $10.84 1/4. Soymeal futures are up $1.80 to $2.10 at midday, with Soy Oil futures 155 to 160 points lower.
The weekly Crop Progress report from NASS showed 95% of the US soybean crop planted by 6/7, up 2% from normal, with 88% emerged and 6 percentage points faster than normal. Condition ratings were back up 1% to 66% gd/ex, with the Brugler500 index up 1 points to 368.
Brazil’s soybean exports in June are estimated at 15.31 MMT according to ANEC, up 0.93 MMT from their previous estimate.
Jul 26 Soybeans are at $11.27 1/4, up 8 cents,
Nearby Cash is at $10.74 1/4, up 8 cents,
Aug 26 Soybeans are at $11.32 1/4, up 8 3/4 cents,
Nov 26 Soybeans are at $11.45 1/4, up 10 1/2 cents,
New Crop Cash is at $10.80 1/2, up 10 1/4 cents,
