Soy ಸಂಗೇನ್ contracts edged lower on Tuesday, falling 1 to 4 cents on the close. July contracts settled at $12.07¼, up 5¼ cents from the prior day, while August futures closed at $11.92¾, a 4‑cent decline. November contracts ended at $11.91, down 3¾ cents, and the New Crop cash price was $11.26½, 3¼ cents lower.
Spot prices mirrored the futures movement, with the cash bean price down 3¾ cents at $11.46, based on the national average reported by cmdtyView. Despite weaker spot levels, soymeal futures rallied, closing 20 cents higher at $ ech. Soy oil futures slipped 19 to 49 points, and July contracts for the complex expired at market close.
Crop progress data from the National Agricultural Statistics Service (NASS) indicated that 50 % of the U.S. soybean crop had reached the blooming stage by July 12, 6 % above the historical average, with 19 % of the crop now forming pods—a pace 6 percentage points faster than normal. Condition ratings improved, with 65 % of the crop rated growth‑death (gd/ex), and the Brugler500 index rising to 367. Some regional 로iferation was noted: Illinois fell 5 points, Indiana and Iowa down 2 points each, and Missouri down 3; meanwhile, Minnesota gained 1 point, Nebraska 5, Ohio 19, and North Dakota 1.
NOPA data for June will be released on Wednesday, with traders anticipating a crush volume of 203.99 million barrels among members and bean oil stocks projected at 1.653 billion barrels.
ifes theBrazilian soybean crop is projected at 180.57 million metric tonnes in 2024, an increase of 0.32 million tonnes from last month. Export estimates for July are 13.76 million tonnes, up 1.5 million tonnes from the prior week and higher than the 12.25 million tonnes shipped in July 2023. In China, soybean imports reached 13.55 million tonnes in June, according to national trade figures.
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