Soybeans are showing 1 to 3 ¼ cent losses at midday. The cmdtyView national average Cash Bean price is down 3 cents $11.47 3/4. Soymeal futures are down a dime, with Soy Oil futures 49 points lower. July futures expire for the complex at the close.
Crop Progress data from NASS showed 50% of the US soybean crop blooming by 7/12, up 6% from normal, with 19% setting pods and 6 percentage points faster than normal. Condition ratings were back up 1% at 65% gd/ex, with the Brugler500 index improving 2 to 367. Deterioration was noted in the I states, with IL down 5, as IN and IA was down 2, and MO down 3. There was some improvement in MN (+1), NE (+5) OH (+19) and ND (+1).
NOPA data will be released on Wednesday, with traders looking for 203.99 mbu of soybeans crushed among members in June. Bean oil stocks are seen at 1.653 bbu.
Brazil soybean production is seen at 180.57 MMT according to the CONAB data release this morning, up 0.32 MMT from last month. China imported 13.55 MMT of soybeans in June according to the country’s trade data.
Jul 26 Soybeans are at $12.07 1/4, up 5 1/4 cents,
Nearby Cash is at $11.47 3/4, down 3 cents,
Aug 26 Soybeans are at $11.93 1/2, down 3 1/4 cents,
Nov 26 Soybeans are at $11.93 1/4, down 1 1/2 cents,
New Crop Cash is at $11.28 3/4, down 1 cent,
