As of July 26, soybean prices have risen by 8 cents, with Jul 26 Soybeans valued at $11.27 1/4 per bushel and Nearby Cash at $10.74 1/4. The cmdtyView national average Cash Bean price increased to $10.84 1/4. Soymeal futures also saw gains, rising $1.80 to $2.10, while Soy Oil futures fell by 155 to 160 points.
The USDA’s weekly Crop Progress report, released on June 7, indicated that 95% of the U.S. soybean crop was planted, which is 2% above the normal rate. Additionally, 88% of the crop had emerged, 6 percentage points faster than usual, with condition ratings up to 66% good/excellent.
In Brazil, June soybean exports are estimated at 15.31 million metric tons (MMT), an increase of 0.93 MMT from previous estimates by ANEC.
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