Market Overview

Soybeans Little Changed

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July Soybeans are trading at 926 3/4, up 2 1/2 cents.

November Soybeans are trading at 909 1/4, up 2 1/4 cents. July Soybean Oil is trading at 32.07 up 0.43. July Soymeal is trading at 303.5, down 0.7.

Chatter about wide ranges and month end pricing coming up is making the rounds. Soybean spreads have moved a little lower over the last few sessions. Last year at this time soybean plantings were at 55% versus the 10 year average of 58%.

Market talk about this year's plantings moving along the 10 year average has been making the rounds. Chatter about wet weather moving those estimates down is lingering in the background.

Soybean Oil is firm overnight. Chatter about El-Nino effects on global production later this year is making the rounds and has been supportive.

 

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