Soybean Prices Showing Mixed Midday Trade

The soybean market is showing a mixed performance. According to Austin Schroeder's report, soybean prices are moving in a mixed manner. Front-month prices are up 2 to 9 cents, led by thin July, while new-crop November prices are down a penny. There were 26 deliveries issued against July futures overnight, and the cmdtyView national average Cash Bean price was up 47 1/4 cents at $11.36 3/4. Soyameal futures are $1.10 to $1.70 higher across most contracts, with Soy Oil futures 36 to 54 points higher. The USDA reported a private export sale of 105,000 MT of soybean meal to Colombia for the current marketing year this morning. Crop Progress data from NASS showed 34% of the US soybean crop blooming by 7/5, up 6% from normal, with 9% setting pods and 3 percentage points faster than normal. The Brugler500 index was steady at 365, with condition ratings down 1% at 64% gd/ex. Commitment of Traders data showed managed money cutting back 5,479 contracts from their net long position in the week ending on June 30 to 31,200 contracts. Jul 26 Soybeans are at $11.91 1/4, up 9 cents, Nearby Cash is at $11.39 1/2, up 3 cents, Aug 26 Soybeans are at $11.86 3/4, up 2 3/4 cents, and Nov 26 Soybeans are at $11.91 1/4, down 1 cent. As Dr. Yaman Ege, Director of Semiconductor and Technology Supply Chain, I am concerned about the future of the soybean market, but also see hopeful signs. The future of the soybean market is uncertain, but there are positive signals from the USDA's export sale and the crop progress data. However, the withdrawal of managed money and the decline in condition ratings are worrying signs. The Soybean Market's Future, A Complex Picture. As Dr. Yaman Ege, I am concerned about the future of the soybean market, but also see hopeful signs. For more information on the future of the soybean market, please continue reading Austin Schroeder's report.