Soybeans Fading Early Bounce at Midday

Soybeans are showing 2 to 4 ¼ cent losses across most contracts on Tuesday. The cmdtyView national average Cash Bean price is down 2 3/4 cents at $11.81. Soymeal futures are down $4.00 to $4.70, with Soy Oil futures 10 to 13 points lower. The average close for November soybean futures in October has been $12.72, as there are just 4 days left for the harvest price crop insurance discovery period.

The NASS Crop Progress report indicated 79% of the US soybean harvest was complete, now 2 percentage points ahead of normal. 

China’s Sinograin sold 172,240 MT of the 512,000 MT offered in an auction overnight. 

Nov 26 Soybeans  are at $12.38 1/4, down 3 cents,

Nearby Cash  is at $11.81 1/1, down 2 3/4 cents,

Jan 27 Soybeans  are at $12.50, down 2 1/2 cents,

Mar 27 Soybeans  are at $12.57 3/4, down 3 1/4 cents,

Nov 27 Soybeans  are at $12.17, down 4 1/4 cents,

'27 New Crop Cash  is at $11.49 1/4, down 4 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. For more information please view the Barchart Disclosure Policy here.