Soybeans Slipping Back to Start Turnaround Tuesday

Soybeans are showing modest weakness on Tuesday morning, with contracts fractionally to a couple cents lower. Futures were up 10 to 13 1/2 cents across the 2026 contracts on Monday, with deferreds up 5 to 9 ½ cents. Open interest was down 12,340 contracts on Monday, with 36,462 contracts exiting the May contract. The cmdtyView national average Cash Bean price was up 13 3/4 cents at $11.16 3/4. Soymeal futures were up $1.50 to $9.50 across the board, with Soy Oil futures up 27 to 36 points. Assumed crush margins are now exceeding the highs from 2022.

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.

The weekly Crop Progress report from NASS showed the US soybean crop at 23% planted by April 26, well above the 12% average pace for this time of year. Emergence was at 8%, vs. 1% on average.

May 26 Soybeans  closed at $11.77 1/4, up 13 1/2 cents, currently down 1 1/2 cents

Nearby Cash  was $11.16 3/4, up 13 3/4 cents,

Jul 26 Soybeans  closed at $11.92, up 13 1/2 cents, currently down 1 cent

Nov 26 Soybeans  closed at $11.65 3/4, up 10 cents, currently down 1/2 cent

New Crop Cash  was $11.03 1/4, up 10 cents,