Soybean Meal May '25 (ZMK25)

The soybean market posted Thursday gains of as little as fractionally in the new crop contracts to 5 cents in some nearbys. CmdtyView’s national front month Cash Bean price was up 5 1/2 cents at $9.52. Soymeal futures posted losses of 60 cents to $1.60/ton, as Soy Oil futures were up 35 to 39 points on the day.

USDA’s Export Sales report indicated a total of just 352,580 MT in 2024/25 soybean sales in the week of March 13, shy of the estimated 0.4 to 0.9 MMT. That was a 5- week low and down 28.6% from last year. China was the buyer of 269,900 MT, with Taiwan purchasing 60,000 MT. There was 62,900 MT in reductions for unknown, mostly switched to China (266,100 MT). New crop sales were just 100 MT, vs. expectations at 0-50,000 MT. 

Soybean meal totaled just 182,243 MT on the lower side of the trade’s 140,000 to 470,000 MT expectations. That was a 3-week low a 97,500 MT was headed to the Philippines. Bean oil sales were at 34,179 MT, in the middle of the 15,000 to 60,000 MT... Read more