On July 26, soybean contracts closed lower, with Jul 26 down 2 cents at $11.13 3/4 and Nov 26 down 3 1/2 cents at $11.32. The cmdtyView national average Cash Bean price increased slightly by 1/4 cent to $10.58. In the latest Crop Progress report, 92% of the U.S. soybean crop was planted by June 7, with 79% emerged, ahead of normal rates. Condition ratings for the crop declined to 65% good/excellent.
Chinese soybean imports fell 15.3% in May to 11.79 million metric tons compared to the previous year. Meanwhile, Brazilian soybean export estimates for June increased to 14.38 million metric tons, up from 12.36 million metric tons last month. The USDA’s WASDE report is expected to be released Thursday, with trade estimates for old crop bean carryout at 339 million bushels, showing stability from May estimates.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
