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Barchart
Austin Schroeder

Soybean Bulls Gain Ground on Meal Strength

CmdtyView Oil

Soybean futures rounded out the Monday session with contracts 5 to 7 ¼ cents in the green. The cmdtyView national average Cash Bean price was up 5 3/4 cents at $9.37 ½. Soymeal futures posted Monday gains of $1.90 to $6.30/ton. Soy Oil futures were mixed, with futures down 22 to 37 points higher. Another 492 contracts were issued for August meal, with 218 issued for August beans, all by CHS. 

Crop Progress data from NASS this afternoon showed 85% of the US bean crop blooming by Sunday, with 58% setting pods, both near normal. Soybean conditions were down 1% to 69% gd/ex, with the Brugler500 index dropping back 3 points to 375 on a 1% move from good to very poor.

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