Soybean Jul '25 (ZSN25)

Soybean futures closed the Monday session with contracts bear spreading, as the front months were just fractionally higher. Other contracts were up 3 to 8 ¼ cents. Soymeal futures pupped back to start the fresh week, as contracts were down $1.50 to $5.40/ton. Soy Oil was up 71 to 87 points on reports that President Biden is considering placing tariffs on Chinese used cooking oil imports.

The weekly Crop Progress report from NASS pegged the US soybean crop at 35% planted by Sunday, a 10% increase on the week. That is now just 1% above the 5-year average pace and lags last year by 10%. Emergence of the crop was 16%, with the average at 10%.

The USDA Export Inspections report tallied 406,052 MT (15 mbu) of soybeans shipped during the week of 5/9. That was a 3-week high and more than double the same week last year. Of the total, 141,328 MT was headed to Egyptian importers, with 72,471 MT on its way to China. Cumulative export inspections are now 39.537 MMT (1.45 bbu), down 1... Read more