Soybean Meal May '19 (ZMK19)
Soybean Meal Futures Market News and Commentary
Soybeans are posting 9 to 11 cent losses at Tuesday’s midday. The cmdtyView national average Cash Bean price is up 3 ½ cents at $11.36 1/4. Soymeal futures are up 50 to 70 cents lower, with Soy Oil dropping 139 points. There were 4 delivery notices against August soybeans overnight, with 12 for bean oil.
USDA reported a private export sale of 136,000 MT of soybeans to China this morning for 2026/27 shipment, with 180,000 MT of soybean meal sold to the Philippines.
Weekly Crop Progress data from NASS showed 93% of the US soybean crop blooming by 8/9, with 74% setting pods and 5 percentage points faster than the 5-year average. Condition ratings were down 1% at 62% gd/ex, with the Brugler500 index slipping 2 points at 361. Much of the drop came in ND (-31), with MN/WI (-4), MO/OH (-2), and IA/KS (-1) all seeing some deterioration. Improvement was seen in several states, including IL (+4), IN (+1), MI (+9), NE (+7) and SD (+4).
The NOAA 7-day forecast is calling for... Read more
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