Soybean Meal May '22 (ZMK22)

Soybeans saw losses of 1 to 5 ¼ cents in most contracts on Thursday, as May saw a 4 ¼ cent gain this week. The cmdtyView national average Cash Bean price was down 5 1/2 cents at $10.94. Soymeal futures were down $3.00 to $4.20, as May was down 10 cents on the short week. Soy Oil futures were 100 to 183 points higher, was May was 153 points in the green. Crude Oil was up $11.94 at $112.06, after President Trump’s address the nation on Wednesday night that indicated 2-3 weeks more of strikes and an uncertain fate to the Strait of Hormuz. The market is closed on Friday in observance of Good Friday. The Monday session will have a normal Sunday night open.

USDA Export Sales data showed bean sales at 353,259 MT in the week of 3/26. That was down from last week but 35.51% above the same week last year. China was the top buyer of 141,000 MT, as 134,000 MT was switched from unknown, with 91,400 MT sold to Bangladesh. New crop business came in a 0.

Soybean meal sales were tallied... Read more