Soybeans in Rally Mode on Monday

Soybeans are up 11 to 15 cents across most contracts on Monday. The cmdtyView national average Cash Bean price is up 15 cents at $11.17 1/4. Soymeal futures are up $9.50 to $9.70 in the front months, with Soy Oil futures up 20 to 24 points.

USDA’s FGIS tallied soybean export shipments at 628,826 MT (23.1 mbu) during the week ending on April 23. That was 16.9% below the week prior but 36.9% above the same week last year. China was the top destination of 247,121 MT, with 92,443 MT headed to Mexico and 92,442 MT to Indonesia. Marketing year exports for 2025/26 are 32.81 MMT (1.206 bbu) since September 1, which is now 24% below the same period last year.

NASS will update their Crop Progress report this afternoon, with traders looking for the US soybean crop to be 22% planted as of Sunday.

Weekly CFTC data via the Commitment of Traders report indicated managed money adding 17,733 contracts to their net long position as of 4/21. That net long stood at 192,884 contracts on Tuesday in bean futures and options. Soybean oil pushed their net long to a record 165,444 contracts. 

May 26 Soybeans  are at $11.78 3/4, up 15 cents,

Nearby Cash  is at $11.17 1/4, up 15 cents,

Jul 26 Soybeans  are at $11.93 1/2, up 15 cents,

Nov 26 Soybeans  are at $11.67, up 11 1/4 cents,

New Crop Cash  is at $11.05, up 11 3/4 cents,