Soybean Nov '22 (ZSX22)
Soybean Futures Market News and Commentary
Soybeans posted fractional losses in some deferred contracts, with the front months down as much as 10 1/2 cents. The cmdtyView national average Cash Bean price was down 10 1/4 cents at $11.22 1/4. Soymeal futures saw $1 to $3.60 losses on the day, with Soy Oil futures 35 to 47 points higher.
Tuesday morning’s Export Inspections report showed soybean shipments of 571,620 MT (21 mbu) in the week of 5/21. That was more than double the same week last year and slightly above the previous week. China was the largest destination of 137,310 M, with 110,059 MT shipped to Egypt and 75,442 MT to Mexico. The marketing year total is now 35.135 MMT (1.29 bbu) of soybeans shipped since September 1, which is 20.8% below the same period last year.
The weekly Crop Progress report from NASS showed the US soybean crop at 79% planted by May 24, still well above the 68% average pace for this time of year. Emergence was at 49% vs. 40% on average. Condition ratings will start being reported ne... Read more
Walsh Trading · Tue May 26, 7:16PM CDT
I am Stephen Davis, senior market strategist at Walsh Trading, Inc., Chicago, Illinois. You can reach me at 312-878-2391. Often when markets climb above...
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