Soybeans Close Slightly Higher as Planting Pace Rolls
The soybean market saw slight gains on Monday, with contracts stready to 2 cents in the green at the close. The cmdtyView Cash Bean price was up a penny to $10.01 1/4. Soymeal futures are down 80 cents to $1.20/ton on the day, with Soy Oil futures back up 50 to 75 points.
USDA reported a total of 145,000 MT of soybean meal sold to the Philippines for the current marketing year.
USDA’s Export Inspections report indicated a total of 217,842 (8 mbu) of soybeans shipped in the week that ended on 5/15. That was down 50.4% from the previous week but 13.3% above the same week in 2024. Another round of no shipments to China were reported, with 65,958 MT headed to Mexico and 52,843 MT to Egypt. Marketing year shipments have totaled 44.13 MMT (1.622 bbu), which is up 11.1% compared to the same week last year.
The US soybean crop was tallied at 66% planted as of May 18, 13 percentage points ahead of the average pace. The crop was listed at 34% emerged, with the 5-year average at 23% by that date.
Jul 25 Soybeans closed at $10.50 3/4, up 3/4 cent,
Nearby Cash was $10.01 1/4, up 1 cent,
Aug 25 Soybeans closed at $10.47 3/4, up 1 1/2 cents,
Nov 25 Soybeans closed at $10.37, up 1 1/2 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.