Soybeans are following up Monday with more weakness on Tuesday, as contracts are down 16 to 23 cents.  Product values continued to be a factor, with Soy Oil futures down 10 to 20 points, as Soymeal futures are losing $4-5/ton.

The NASS Crop Progress report indicated that 77% of the US soybean crop in the 18 tracked states was blooming and 44% was setting pods, Those were 3 and 4 percentage points above their respective averages. Some of the WCB states were lagging behind, with MN, IA, KS, and the Dakotas all below the 5-year pace for setting pods. 

Soybean conditions were slipping back 1% to 67% gd/ex as of July 28. The Brugler500 index was unchanged @ 370, as 2% left the good category, 1% each heading to fair and excellent. By state IL was unchanged, with IN up 1, IA 4 points higher, and MN improving 6 points on the Brugler 500 index. There was a 16 point drop to the KS ratings with ND down 10, and MO/SD/OH all losing 5 points.  

Aug 24 Soybeans  are at $10.32 1/2, down 22 1/4 cents,

Nearby Cash  is at $10.03 3/8, down 21 1/4 cents,

Nov 24 Soybeans  are at $10.22, down 17 1/2 cents,

Jan 25 Soybeans  are at $10.38 1/4, down 16 3/4 cents,

New Crop Cash  is at $9.73 3/8, down 16 3/4 cents,