The soybean market is trading with Friday losses of 5 to 7 cents across most contracts at midday. CmdtyView’s national front month Cash Bean price is back down 6 3/4 cents at $9.45 ½. Soymeal futures are up $1.70/ton, as Soy Oil futures are down 64 points on the day.
USDA’s Export Sales report showed just 352,580 MT in 2024/25 soybean sales during the week of March 13. Soybean export commitments to date are 45.422 MMT, which is 13% above the same period last year. That is also 91% of USDA’s soybean export forecast, compared to the 5-year average sales pace of 92% of that projection by now.
Buenos Aires Grains Exchange data from Thursday showed a 1 MMT reduction to the Argentina soybean crop at 48.6 MMT. They reported the crop at 29% excellent, up 5% from last week, as the poor rating was down 6%.
May 25 Soybeans are at $10.06 1/4, down 6 3/4 cents,
Nearby Cash is at $9.45 1/2, down 6 3/4 cents,
Jul 25 Soybeans are at $10.19, down 6 1/4 cents,
Nov 25 Soybeans are at $10.04 3/4, down 5 1/2 cents,
New Crop Cash is at $9.41 1/2, down 5 3/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
/Tesla%20Inc%20tesla%20by-%20Iv-olga%20via%20Shutterstock(1).jpg)
/Stickers%20with%20AMD%20Radeon%20and%20Nvidia%20GeForce%20RTX%20graphics%20on%20new%20laptop%20computer%20by%20Piotr%20Swat%20via%20Shutterstock.jpg)
/Nvidia%20logo%20by%20Konstantin%20Savusia%20via%20Shutterstock.jpg)