Soybean Meal Dec '25 (ZMZ25)

Soybeans are down 2 to 6 cents so far on Monday morning. Futures were down 3 to 4 cents in the front months, as March was up 4 ½ cents last week. Open interest was down 36,192 contracts in March on Friday, with the rest up 18,174 contracts. The cmdtyView national average Cash Bean price was up 7 1/2 cents at $10.76 1/2. Soymeal futures were up $5 to $5.30 in the front months, with March up  60 cents last week. Soy Oil futures were down 70 to 75 points with March up 184 points last week. We are closing in on the final week for the crop insurance spring base price discovery, with the average November soybean close during February at $11.03 so far. Thiat is up 49 cents from last year.

On Friday, the US Supreme Court ruled the President cannot use the IEEPA for tariff purposes. The market took to risk off mode following the new, as this likely give some leverage to China. President Trump later responded by indicating he will issue a 10% blanket tariff under sections 122 of the 197... Read more