Midday trading showed mixed movement in soybean prices, with front‑month contracts rising 2 to 9 cents, driven by a thin July contract, while the new‑crop November contract slipped by one cent. Overnight, 26 delivery notices were issued against July futures. The national average cash price for soybeans rose 47.25 cents to $11.36 3/4, according to cmdtyView. Soybean meal futures gained $1.10 to $1.70 across most contracts, and soybean oil futures advanced 36 to 54 points. No delivery notices were received for July soybean meal futures, nor for July bean oil.
USDA announced a private export sale of 105,000 metric tons of soybean meal to Colombia for the current marketing year.
NASS crop progress data indicated that 34% of the U.S. soybean crop was in bloom as of July 5, which is 6 percentage points above the normal level, and 9% of the crop had set pods, three points higher than usual. Overall condition ratings fell by 1% to 64% good to excellent, while the Brugler500 index remained steady at 365. Deterioration was observed in North Dakota, Ohio, Indiana, and other marginal states, whereas improvements were noted in Missouri, South Dakota, Minnesota, Illinois, and Michigan.
CFTC Commitment of Traders data revealed that managed money reduced its net long position by 5,479 contracts during the week ending June 30, bringing the total to 31,200 contracts.
July 26 soybeans were quoted at $11.91 1/4, up 9 cents.
Nearby cash prices stood at $11.39 1/2, up 3 cents.
August 26 soybeans were at $11.86 3/4, up 2.75 cents.
November 26 soybeans were at $11.91 1/4, down 1 cent.
New‑crop cash prices were at $11.26 1/2, down 0.75 cent.
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