As of Tuesday, July 25, soybeans are up 4 to 7 cents, with the cmdtyView Cash Bean price at $9.95 1/2, reflecting a gain of 6 3/4 cents. Soymeal futures increased by 30 cents, while soy oil rose by 62 points.
The U.S. soybean crop is currently 84% planted, exceeding the normal rate by 4 percentage points, with 63% emerged, ahead of the five-year average of 57%. Initial condition ratings indicate 67% of the crop is in good/excellent condition, down from last year’s 379 on the Brugler500 index to 370 this year.
In April, 202.4 million bushels of soybeans were crushed, a 2.11% decrease from March but a 13.98% increase from April 2024. Total soybean oil stocks fell 5% from last month to 1.975 billion lbs, down 14.5% year-over-year.
