The soybean market is trading 3 to 6 cents lower on Tuesday morning. Soybeans settled the Monday session with contracts slipping 1 to 3 cents. Preliminary open interest was up just 1,668 contracts on Monday. CmdtyView’s national front month Cash Bean price was down 2 1/4 cent at $9.47. Soymeal futures were down $1.10 to $2.70/ton in the front months, with Soy Oil futures 13 to 24 points higher at the close.
Weekly Export Inspections data from USDA showed a total of 822,214 MT (30.21 mbu) of soybeans shipped in the week ending on 3/20. That was a 25% increase from the week prior and 4.7% above the same week last year. Despite the tariffs, China was still the top destination of 404,561 MT, with 107,955 MT headed to Egypt and 71,685 MT destined for Mexico. Marketing year shipments have totaled 39.932 MMT (1.467 bbu), which is a 9.2% hike vs. the same week in 2024
AgRural estimates the 2024/25 soybean crop at 165.9 MMT, a drop of 2.3 MMT from their previous estimate. The crop is now pegged at 77% harvested, vs. 69% from the same time last year.
May 25 Soybeans closed at $10.07 1/4, down 2 1/2 cents, currently down 5 1/2 cents
Nearby Cash was $9.47, down 2 1/4 cents,
Jul 25 Soybeans closed at $10.19 1/2, down 2 cents, currently down 4 3/4 cents
Nov 25 Soybeans closed at $10.06 1/2, down 1 1/4 cents, currently down 3 1/4 cents
New Crop Cash was $9.43 1/2, down 1 1/4 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.
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