Soybeans Post Turnaround Tuesday Losses of 4 to 8 Cents

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Summary · why it matters

Soybean futures are posting Turnaround Tuesday losses of 4 to 8 cents at midday. The cmdtyView national average Cash Bean price is down 7 and 1/24 cents at $11.82 and 3/4. Soymeal futures are $2.30 to $3.50 higher, while Soy Oil futures are down 70 to 83 points. Crop Progress data from NASS showed 66% of the US soybean crop blooming by July 19, up 6% from normal, with 32% setting pods and 8 percentage points faster than normal. Condition ratings improved 1% to 66% good to excellent, with the Brugler500 index up 2 to 369, though deterioration was noted in Missouri, North Dakota, and South Dakota, while ratings improved in Illinois, Iowa, Minnesota, Nebraska, and Ohio.

Impact on assets 3

Others± Mixed · 3 stocks
⛏Soybean Futures
SOYBEAN
▼ NegativeSupplyrelevance

Soybean futures down 4-8 cents; crop progress shows faster development and improved conditions, indicating ample supply.

⛏Soybean Oil Futures
SOYOIL
▼ NegativeSupplyrelevance

Soy oil futures down 70-83 points, reflecting ample supply from improved crop conditions.