Soybean Meal Mar '22 (ZMH22)
Soybean Meal Futures Market News and Commentary
Soybeans are trading with 5 to 7 ¼ cent losses early on Tuesday. Futures closed with Monday gains of 4 to 5 ½ cents. Open interest suggested new buying, up 6,710 contracts on Monday. The cmdtyView national average Cash Bean price was up a nickel at $11.50 3/4. Soymeal futures were down $3.20 to $6.30, with Soy Oil futures 148 to 236 points higher. There were 2 deliveries against July soybean meal overnight. July futures expire for the complex at the close.
USDA reported a private export sale of 136,000 MT of soybeans to China on Monday morning for 2026/27.
Crop Progress data from NASS showed 50% of the US soybean crop blooming by 7/12, up 6% from normal, with 19% setting pods and 6 percentage points faster than normal. Condition ratings were back up 1% at 65% gd/ex, with the Brugler500 index improving 2 to 367.
Monday morning’s Export Inspections report showed corn shipments of 418,592 MT (15.38 mbu) in the week of 7/9. That was down 22.8% from the week prior but m... Read more
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