Soybeans are showing 8 to 11 cent gains in most contracts on Wednesday. The cmdtyView national average Cash Bean price is up 12 cents at $10.70 3/4. Soymeal futures are up 90 cents to $1.60 at midday, with Soy Oil futures 70 to 83 points higher.
The next week is looking at heavy precip totals in much of eastern KS, through IA, MI, IL, IN, WI, and IN of 1 to 3 inches. Spottier totals are seen in OH, with NE and the Dakotas seen as very light amounts.
WASDE data will be out on Thursday, with traders surveyed by Bloomberg looking for a steady report, with an average trade estimate of 339 mbu for old crop bean carryout, vs. 340 mbu in May. New crop is estimated at 310 mbu, unchanged if realized.
Jul 26 Soybeans are at $11.24 3/4, up 11 cents,
Nearby Cash is at $10.70 3/4, up 12 cents,
Aug 26 Soybeans are at $11.29 1/2, up 10 3/4 cents,
Nov 26 Soybeans are at $11.40 1/4, up 8 1/4 cents,
New Crop Cash is at $10.75 1/2, up 8 1/2 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.
