Soybeans are up 5 to 8 cents so far on Wednesday. The cmdtyView national average Cash Bean price is up 6 1/4 cents $11.52. Soymeal futures are down 40 cents to $1 higher, with Soy Oil futures 3 to 14 points higher.
The next 7 days are remaining dry for much of the Western Corn Belt according to NOAA’s 7-day QPF, with just trace amounts in parts of MN, IA, NE, MO, and the Dakotas. The Eastern Corn Belt is a little wetter, with 0.5-1.5 inches expected in parts of IL, IN, and OH.
NOPA data from this morning came in well above the average trade guess of 203.99 mbu, at 214.34 mbu crushed during June. That is up 15.69% from a year ago and 2.66% larger than in May. Bean oil stocks were tallied at 1.5 billion lbs, below the trade idea of 1.653 billion lbs. That was down 13.51% from the end of May but up 8.42% from a year ago.
Aug 26 Soybeans are at $11.98 1/2, up 5 3/4 cents,
Nearby Cash is at $11.52, up 6 1/4 cents,
Sep 26 Soybeans are at $11.88 1/2, up 7 1/4 cents,
Nov 26 Soybeans are at $11.98, up 7 cents,
New Crop Cash is at $11.33 1/4, up 7 3/4 cents,
