Soybeans Higher in Early Tuesday Trade
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Soy futures are trading 7 to 10 cents higher this morning after the soy complex closed mixed on Monday. The CME Synthetic Soy Crush  was 4 3/4 cents higher, propped up by gains in soybean oil. Soybean oil futures rallied 30 to 139 points on the day, which for July set a new all-time high of 72.32 cents. Meal futures closed the session $2.90 to $3.20 weaker. Soybeans themselves closed mixed, as July was 1 1/4 cents higher. 

NASS reported 61% of intended soybeans had been planted by 5/16. That was up from 42% last week and remains well ahead of the 37% average. NASS reported soybean planting in NE was 71% finished compared to the 46% average. IA beans were 83% planted compared to the average of 48%. Nationally, soybeans were 20% emerged by Sunday, with the 5-yr average for 12% emergence. 

April NOPA member crush was only 160.31 million bushels. That was well below the 168.7 mbu crush average trade guess and down from 171.8 mbu reported by NOPA members in April 2020.  Soy oil stocks were below estimates due to the light production, at 1.702 billion pounds. 

Jul 21 Soybeans  closed at $15.87 1/2, up 1 1/4 cents, with gains of 10 ¼ this morning

Nearby Cash  was $15.89 yesterday, down 1 1/8 cents,

Aug 21 Soybeans  closed at $15.25 1/2, down 2 cents, but are up 9 this morning

Nov 21 Soybeans  closed at $13.97, down 3 3/4 cents, but are up 9 this morning

New Crop Cash  was $13.47 1/3 yesterday, down 3 3/4 cents,




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