Soybeans saw a rise of 11.5 to 14 cents on Tuesday, with the cmdtyView national average cash bean price increasing by 13.25 cents to reach $12.01 per bushel. Soymeal futures remained steady to up by $1.10, while soy oil rose by 39 to 101 points. The USDA confirmed a private export sale of 132,000 metric tons of soybeans to unknown destinations.
As of August 23, 91% of the U.S. soybean crop had begun pod setting, with 6% dropping leaves. Overall condition ratings fell by 1% to 60% good/excellent, as indicated by the Brugler500 index, which dropped 4 points to 357. North Dakota experienced the most significant decline, down 19 points.
In Brazil, Agroconsult estimates soybean acreage at 49.2 million hectares (121.58 million acres), a slight increase from last year.
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