Soybean Market Steady to 4 Higher This Morning
Alan Brugler - Barchart - Wed Aug 05, 12:27PM UTC

Soybeans start the midweek session steady to 4 cents higher after closing in the red on Tuesday. Yesterday, front month soybean futures fell 11 to 14 3/4 cents/bu. In the rest of the complex, August meal was down $3.60, while Sep posted a new contract low. Aug soy oil slipped 12 points on the day. Board crush margins are still poor, but have climbed back above $1 thanks to the soy oil rally. Barchart’s August cmdty Yield Forecast is 49.2 bpa for soybeans. That was up 0.4 bpa from the July estimate. StoneX released a 54.2 bpa projection on Monday. USDA will give their first survey and satellite driven estimate a week from today. US and China trade reps reportedly plan to meet via video conference on August 15 to assess compliance by China on the Phase One deal. USDA will release the official June export data today.

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