Soybeans were 2 ¾ to 11 ¾ cents in the red on Tuesday, with the nearbys leading the charge. The cmdtyView national average Cash Bean price was down 11 1/4 cents at $11.43. Soymeal futures were down 50 cents to $1.30 on the session, with Soy Oil futures steady to 43 points higher on the day.
The weekly Crop Progress report from NASS showed the US soybean crop at 33% planted by May 3, still well above the 23% average pace for this time of year. Planting progress by state showed just IA (-2%), MI (-12%), ND (-1%), and WI (-23%) were behind average pace. Emergence was at 13%, vs. 5% on average.
Census trade date was released for March this morning, with a total of 3.949 MMT (145.11 mbu) of soybeans shipped. That was up 12.89% from a year ago but down 5.87% from February. Meal exports were a March record at 1.882 MMT, with bean oil at 70,776 MT.
May 26 Soybeans closed at $11.95 3/4, down 11 3/4 cents,
Nearby Cash was $11.43, down 11 1/4 cents,
Jul 26 Soybeans closed at $12.11 1/2, down 11 1/4 cents,
Nov 26 Soybeans closed at $11.89 1/2, down 7 1/4 cents,
New Crop Cash was $11.27 1/4, down 7 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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