Soybeans are down 3 to 4 cents across most contracts on Tuesday. There were another 46 deliveries reported overnight. The cmdtyView national average Cash Bean price down 3 1/2 cents at $9.52 1/4. Soymeal futures are $4.50 to $6.00 higher in the front months. Soy Oil futures are down 48 to 80 points. The CME reported another 22 deliveries issued overnight.
NASS tallied 97% of the US soybean crop setting pods by Sunday, with 21% dropping leaves, 1% behind normal. Progress in the west is lagging, with NE 19% back of the 5-year average, ND 18% back, SD, 16% behind, and IA 3% below average. Condition ratings were down 1% to 64% gd/ex, as the Brugler500 was 1 point lower to 365. By state, MO was down 9, IA slipping 2, SD dropping 8, and OH falling 22 points. Improvement was noted in NE, up 5, with IL up 3.
