Soybean Nov '23 (ZSX23)

Soybeans closed with Monday losses of 2 to 4 cents in the nearbys. Some deferreds held up. The cmdtyView national average Cash Bean price was down 3 1/4 cents at $10.69. Soymeal futures were down $1 to $2.50 in the front months, with. Soy Oil futures up 47 to 61 points.

USDA’s FGIS tallied soybean export shipments at 669,865 MT (24.61 mbu) during the week ending on February 19. That was 44.9% below the week prior and 23.8% shy of than the same week last year. China was the top destination of 344,885 MT, with 98,686 MT headed to Mexico and 52,839 MT to Egypt. Marketing year exports for 2025/26 are 25.033 MMT (919.8 mbu) since September 1, which is now 32.2% below the same period last year.

On Friday, the US Supreme Court ruled the President cannot use the IEEPA for tariff purposes. President Trump later responded by indicating he will issue a 10% blanket tariff under sections 122 of the 1974 Trade Act, which would expire after 150 days, before raising that to 15% over the... Read more