Soybeans are mixed at midday, with front months up 2 to 9 cents, led by thin July, as new crop November is down a penny. There were 26 deliveries issued against July futures overnight. The cmdtyView national average Cash Bean price was up 47 1/4 cents at $11.36 3/4. Soymeal futures are $1.10 to $1.70 higher across most contracts, with Soy Oil futures 36 to 54 points higher. There were no deliveries against July soybean meal futures overnight, with against July bean oil.
USDA reported a private export sale of 105,000 MT of soybean meal to Colombia for the current marketing year this morning.
Crop Progress data from NASS showed 34% of the US soybean crop blooming by 7/5, up 6% from normal, with 9% setting pods and 3 percentage points faster than normal. Condition ratings were down 1% at 64% gd/ex, with the Brugler500 index steady at 365. Deteriotation was seen in ND (-9), OH (-8), IN (-1) and other fringe states, with improvement in MO (+7), SD (+6), MN (+4), IL (+3), and NE/MI (+1).
Commitment of Traders data showed managed money cutting back 5,479 contracts from their net long position in the week ending on June 30 to 31,200 contracts.
Jul 26 Soybeans are at $11.91 1/4, up 9 cents,
Nearby Cash is at $11.39 1/2, up 3 cents,
Aug 26 Soybeans are at $11.86 3/4, up 2 3/4 cents,
Nov 26 Soybeans are at $11.91 1/4, down 1 cent,
New Crop Cash is at $11.26 1/2, down 3/4 cent,
