Soybeans Close Lower on Trade Aid Rumor

Soybean futures closed Turnaround Tuesday with 9 to 9 3/4 cent losses, after being higher for most of the morning. July soy meal was down $2/ton, with soybean oil 36 points lower. A rumor this morning said President Trump is considering $2/bu trade aid for soybeans, though no other details or official announcements have been made. That would talk a lot of producers out of considering prevent plant claims and into late planted soybeans. After Monday’s close, the Crop Progress report indicated IA was 27% planted, with MN at 10% complete, SD only 4%, IL 9% and NE 40% in the ground.

Jul 19 Soybeans closed at $8.22, down 9 3/4 cents,

Aug 19 Soybeans closed at $8.28 3/4, down 9 3/4 cents,

Sep 19 Soybeans closed at $8.35 1/2, down 9 1/2 cents,

Jan 20 Soybeans closed at $8.60 1/4, down 9 1/2 cents,

Jul 19 Soybean Meal closed at $295.30, down $2.00,

Jul 19 Soybean Oil closed at $27.14, down $0.36

--provided by Brugler Marketing & Management




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