Soybeans Losses Extending to Thursday
CONAB trimmed back their 2024/25 soybean production estimate for Brazil by 0.12 MMT to 169.48 MMT.
Coffee Prices Slip on Brazilian Real Weakness and Increased Supplies
The Golden Rule of Grains: Why "Imaginary Fundamentals" Are Crushing Corn & Soybeans
Will it Be a Watson Wednesday?
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Weekly Export Sales data will be out on Thursday morning, with the trade looking for 300,000 to 600,000 MT in the week of July 3 for old crop, with 50,000 to 400,000 MT seen for new crop. Soybean meal is seen in a range of 125,000 to 950,000 MT in that week and 0 to 30,000 MT for bean oil.
The Central Corn Belt is expected to receive 1 to 3 inches of rain this week, with the western half of the Northern Plains and parts of the ECB seeing totals near an inch
Ahead of the Friday USDA reports, analysts are expecting to see the a 10 mbu increase in the old crop bean stocks to 360 mbu. As for new crop, the Bloomberg survey showed traders looking for a 7 mbu reduction to output on the slight drop in acres to 4.333 bbu. Ending stocks for 2025/26 are estimated at 302 mbu, a 7 mbu increase vs. June.
Jul 25 Soybeans closed at $10.12 1/4, down 12 cents, currently down 7 cents
Nearby Cash was $9.68 1/2, down 12 1/2 cents,
Aug 25 Soybeans closed at $10.09, down 12 1/4 cents, currently down 5 1/2 cents
Nov 25 Soybeans closed at $10.07 1/4, down 10 1/4 cents, currently down 1 3/4 cents
New Crop Cash was $9.58, down 10 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
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