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Soybean contracts fell by 3 to 5 cents on Tuesday, with the cmdtyView national average Cash Bean price down 4 cents at $9.57¾. Soymeal futures decreased by $3 per ton, while Soy Oil saw a rise of 60 to 65 points. As of Sunday, 47% of the US soybean crop was blooming, matching the 5-year average, and crop ratings improved by 4% to 70%, with the Brugler500 index rising 7 points to 376.
Data from NOPA indicated that 185.7 million bushels of soybeans were crushed in June, exceeding trade estimates and setting a new record for the month despite a 3.69% decline from May. Soybean oil stocks were recorded at 1.366 billion pounds.
As of August 25, soybean prices are as follows: Aug 25 Soybeans at $9.96½ (down 4½ cents), Nearby Cash at $9.57¾ (down 4 cents), Sep 25 Soybeans at $9.89¼ (down 4 cents), and Jan 26 Soybeans at $10.21 (down 3 cents).
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