Soybeans Steady at Midday
Soybeans are trading with fractional gains on Tuesday, as weakness in the bean oil market adds some pressure. The cmdtyView national average Cash Bean price is up ¼ cent at $9.76 1/4. Soymeal futures are showing slight 40 cent to $1.50 gains. Soy Oil futures are down 172 to 178 points at midday.
A Chinese trade official is heading to D.C. this week for meetings with US trade reps according to a Wall Street Journal report.
Crop Progress data from NASS on Monday afternoon showed a total of 89% of the US soybean crop setting pods and 4% dropping leaves, on par with the 5-year average. Condition ratings were up 1% to 69% gd/ex, with the Brugler500 index 1 point higher to 374.
Sep 25 Soybeans are at $10.26 3/4, up 1 1/4 cents,
Nearby Cash is at $9.76 1/4, up 1/4 cent,
Nov 25 Soybeans are at $10.48 1/2, up 3/4 cent,
Jan 26 Soybeans are at $10.68 1/4, up 1/2 cent,
New Crop Cash is at $9.70 3/4, up 1/2 cent,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.