Soybeans are showing 9 to 11 cent losses in the front months on Tuesday. The cmdtyView national average Cash Bean price is down 10 1/2 cents at $10.87 1/2. Soymeal futures are down $$3.70 to $5 in the front months, with Soy Oil futures down 15 to 25 points at midday.
Crude oil is up $2.48 at midday ahead of President Trump’s Tuesday night deadline for Iran. That has not spilled over to support for the grains.
USDA will release their monthly WASDE report on Thursday morning. A survey of analysts by Bloomberg shows very few changes expected to the US balance sheet with an average estimate at 349 mbu for soybean’s carryout, vs. 350 mbu in March.
May 26 Soybeans are at $11.56 1/4, down 10 1/2 cents,
Nearby Cash is at $10.87 1/1, down 10 1/2 cents,
Jul 26 Soybeans are at $11.72 3/4, down 10 1/2 cents,
Nov 26 Soybeans are at $11.47 1/4, down 9 3/4 cents,
New Crop Cash is at $10.86 1/2, down 9 1/4 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.
