Soybean futures ended Monday trading at 17-19 cents for most near-term contracts. Soybean meal futures rose $5.60-8.40 a ton, while soybean oil rose 21-52 points.
After the close, NASS released its latest crop progress data, announcing that 95% of the U.S. soybean crop had flowered and 81% had set pods by Sunday. Soybean condition ratings were stable at 68% good/excellent, while 1% changed from good to excellent, helping the Brugler 500 index rise 1 point to 372.
The USDA reported private export sales of the 2024/25 soybean crop this morning, with 332,000 tonnes sold to Chin State and 110,000 tonnes sold to an unknown destination.
According to the soybean export inspection, 398,233 tonnes (14.63 mbu) of soybeans were shipped in the week ending August 15, up 13.9% from the previous week and 24.3% from last year. The largest export destination was Germany with 130,571 tonnes, followed by Egypt with 60,497 tonnes and China with only 56,765 tonnes. Cumulative shipments were 43.78 MMT (1.609 bbu), down 13.6% from the same period last year.
On Sept. 24, soybeans rose 17.5 cents to close at $9.56 1/4.
Nearby cash was at $9.35 3/8, up 17 cents.
On Nov. 24, soybeans rose 19 cents to close at $9.76.
On March 25, soybeans rose 17 3/4 cents to close at $10.09 3/4.
New Crop Cash was up 18 3/4 cents at $9.18.
On the date of publication, Alan Brugler did not hold (either directly or indirectly) any positions in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. For more information please see Barchart’s disclosure policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.