Soybeans Up at Midday

Soybeans futures are 2 1/4 to 2 1/2 cents per bushel higher at midday. Meal futures are up $2.40 and soy oil is 26 points lower. The US soybeans crop progress data shows 90% of the crop blooming (96% avg), with 68% setting pods (85% avg). Condition ratings were down 1% to a 54% g/ex rating, with a Brugler500 index rating 2 points lower at 344. Results from day one of the Midwest Crop Tour had pod counts down as much as 39% from last year. Many of the fields were still blooming, resulting in incomplete pod counts. Of the states surveyed, South Dakota had 59% of the crop setting pods, with Ohio at 54%, both well behind average.

SEP 19 Soybeans are at $8.56 1/4, up 2 1/4 cents,

NOV 19 Soybeans are at $8.69, up 2 1/2 cents,

JAN 19 Soybeans are at $8.82 3/4, up 2 1/4 cents,

MAR 20 Soybeans are at $8.96, up 2 1/4 cents,

SEP 19 Soybean Meal is at $294.40, up $2.40,

SEP 19 Soybean Oil is at $28.42, down $0.26

--- provided by Brugler Marketing & Management

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