Soybeans slipped lower at midday, with contracts closing 5 to 6 cents in the red on Tuesday. The cmdtyView national average Cash Bean price was down 4 3/4 cents at $9.56 1/4. Soymeal futures were down $2.20 to $2.70/ton, as Soy Oil was 30 to 43 points higher. President Trump announced a preliminary trade deal with Indonesia on Tuesday, reportedly including commitments to purchase $4.5 billion in ag products.

Monday afternoon’s Crop Progress data ratings up 4% to 70%, with the Brugler500 index taking all 5 ratings into account up 7 points to 376. Much of the improvement cams in IL (+15), with MO (+10), ND (6), MN (+5), and IA (+1) all seeing stronger ratings. Conditions in MI were down 7, with SD slipping 3 and NE 1 point lower. 

NOPA from this morning showed a total of 185.7 mbu of soybeans crushed in June, above trade estimates. That was down 3.69% from May, but up 5.76% from last year and a June record. Soybean oil stocks were tallied at 1.366 billion lbs. 

July exports out of Brazil are estimated at 12.19 MMT according to ANEC, a 0.26 MMT increase from last week’s estimate, and would be an increase from the 11.25 MMT last year.

Aug 25 Soybeans  closed at $9.95, down 6 cents,

Nearby Cash  was $9.56 1/4, down 4 3/4 cents,

Sep 25 Soybeans  closed at $9.87 1/4, down 6 cents,

Jan 26 Soybeans  closed at $10.19, down 5 cents,

New Crop Cash  was $9.53 1/2, down 4 3/4 cents,