Soybeans Fractionally Lower on Tuesday

Soybean futures are showing fractional to 1 cent losses in most front months on Tuesday. Forecasts for heavy rainfall totals in most of the Corn Belt (especially the ECB), with 23% of the crop left to be planted are holding the market up at midday. Soymeal is down $2.60/ton, with bean oil 20 points higher. USDA reported that IL was 70% planted, IN was 74%, MO at 57% and OH just 46% planted by Sunday. MN was 94% complete, with IA at 89% and NE 91% planted. TN was the only of the 18 states reported faster than normal. The overall crop was 55% emerged, with the normal pace at 84%.

Jul 19 Soybeans are at $9.12 1/2, down 1/4 cent,

Aug 19 Soybeans are at $9.19, down 1/4 cent,

Sep 19 Soybeans are at $9.25 1/4, down 1 cent,

Nov 19 Soybeans are at $9.39, down 1/2 cent,

Jul 19 Soybean Meal is at $322.30, down $2.00

Jul 19 Soybean Oil is at $28.34, up $0.20

--provided by Brugler Marketing & Management

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