Soybeans eased back lower on Monday, with contracts down 1 to 2 cents on the session. The cmdtyView national average Cash Bean price was up 2 1/4 cents at $9.75 1/2. Soymeal futures were down $1.40 to $3, with Soy Oil futures back up 8 to 33 points.
Crop Progress data from NASS this afternoon showed 95% of the US bean crop blooming by Sunday, with 82% setting pods, both even with normal. Soybean conditions were steady at 68% gd/ex, though the Brugler500 index was down another point to 373.
Rains made their way through parts of the Dakotas, MN, northern IA and NE, WI, northeast IL and northwest IN over the last few days. The next week looks a little drier.
This morning’s Export Inspections report showed a total of 473,605 MT (17.4 mbu) of soybeans shipped in the week of 8/14. That is up 16.6% above the same week last year and 13% below the week prior. Egypt was the largest buyer of 126,750 MT, with 109,887 MT shipped to Mexico and 76,141 MT to Taiwan. Marketing year shipments are now at 48.867 MMT (1.795 bbu), which is 11.6% above the same period last year.
Sep 25 Soybeans closed at $10.20 3/4, down 1 1/2 cents,
Nearby Cash was $9.75 1/2, down 2 1/4 cents,
Nov 25 Soybeans closed at $10.41 1/4, down 1 1/4 cents,
Jan 26 Soybeans closed at $10.60, down 1 1/2 cents,
New Crop Cash was $9.66 3/4, down 2 3/4 cents,
