Soybeans Extend Gains to Tuesday’s Close

Soybeans posted gains of 11 ½ to 14 cents across the board on Tuesday. The cmdtyView national average Cash Bean price was up 13 1/4 cents at $12.01. Soymeal futures were steady to $1.10 higher on the day, with Soy Oil back up 39 to 101 points.

USDA reported a private export sale of 132,000 MT of soybeans to unknown destinations this morning.

Weekly Crop Progress data from NASS showed 91% of the US soybean crop setting pods by 8/23, with 6% dropping leaves. Condition ratings were down 1% at 60% gd/ex, with the Brugler500 index falling 4 points to 357. Ratings in ND were down 19 points, with OH/SD (-5) IN(-3), IL/MN/MO (-2), and IA (-1) all seeing weaker conditions.

Agroconsult estimates the Brazilian soybean acreage at 49.2 million hectares (121.58 million acres), slightly above last year.

Sep 26 Soybeans closed at $12.28, up 12 cents

Nearby Cash was $12.01 1/1, up 13 1/4 cents

Nov 26 Soybeans closed at $12.37 3/4, up 13 1/2 cents

Jan 27 Soybeans closed at $12.52 1/4, up 14 cents

New Crop Cash was $11.80 1/2, up 12 1/2 cents

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com