Soybeans Continue Lower on Tuesday

Soybean futures ended Tuesday with most nearby contracts 13 to 14 cents lower. August soybean meal was down $3.20/ton, with soy oil down 29 points. The weekly USDA Crop Progress report indicated MS as the only state to be reported at faster than normal for blooming pace. Crop conditions last week saw IL and MO up 5 points, with OH 6 higher. IA was down 1, with MN 4 lower and NE deteriorating 6 points. Forecasts shows rainfall expected in northern parts of the Corn Belt and into the ECB over the next week. A look at cmdtyView’s national average cash price index shows cash beans at $8.18 3/4 vs. $7.68 1/2 last year on the same day. That puts basis at -69 cents vs. August with last year at -61 cents.

AUG 19 Soybeans closed at $8.87 3/4, down 14 cents,

SEP 19 Soybeans closed at $8.93 3/4, down 14 cents,

NOV 19 Soybeans closed at $9.06, down 14 cents,

JAN 20 Soybeans closed at $9.18 3/4, down 13 1/2 cents,

AUG 19 Soybean Meal closed at $308.40, down $3.20,

AUG 19 Soybean Oil closed at $27.99, down $0.29

--provided by Brugler Marketing & Management




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