Soybeans Fall on Tuesday
The forecast continues to look less threatening to the US, with rains of at least an inch from the Northern Plains to the Eastern Corn Belt in the next week.
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The weekly USDA crop progress report showed steady condition ratings at 66% gd/ex. The Brugler500 index was unchanged at 367. There were several shifts by state, with the fringe states seeing the largest swings. Ratings in IN were down 5, IA slipping 6, MO 3 points lower, NE 9 points worse, and ND dropping 12. Conditions in MN and OH up 5 points.
Brazil's soybean exports for June are expected to total 14.99 MMT according to ANEC, which is up from the 14.36 MMT previous estimate.
Jul 25 Soybeans closed at $10.46 3/4, down 12 cents,
Nearby Cash was $10.01 3/4, down 9 3/4 cents,
Aug 25 Soybeans closed at $10.50 1/4, down 11 3/4 cents,
Nov 25 Soybeans closed at $10.37, down 9 3/4 cents,
New Crop Cash was $9.84 3/4, down 9 1/4 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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