Soybeans Weaker as USDA Confirms Drop to Expected Acres

Soybeans are falling on Monday, with old crop contracts down 7 to 8 cents. New crop is down 8 ½ cents in a buy the rumor, sell the fact reaction to the tighter acreage number.  CmdtyView’s national front month Cash Bean price is down 9 3/4 cents at $9.56 ¼. Soymeal futures are down 40 cents/ton so far on Monday, with Soy Oil futures are back down 24 points

This morning’s Prospective Plantings report indicated the NASS survey of producers showing intentions of 83.495 million acres for soybeans this spring. That is shy of the average trade estimates but within the 82.5 to 85.5 million acre range. If realized, it would be a 3.555 million acre drop. March 1 soybean stocks were tallied at 1.91 billion bushels, coming in slightly above trade estimates. That was also 65 mbu above the same period last year.

Weekly Export Inspections data from USDA showed a total of 793,250 MT (29.15 mbu) of soybean shipments in the week ending on 3/27. That was a 7.5% drop from the week prior but 54.1% above the same week last year. Despite the tariffs, China was still the top destination of 622,005 MT, which was 78.4% of the total export business. Marketing year shipments have totaled 40.731 MMT (1.497 bbu), which is a 9.8% increase vs. the same week in 2024.

AgRural estimates the Brazilian soybean harvest at 82% complete as of March 27, ahead of the 74% pace at the same time last year. 

May 25 Soybeans  are at $10.15 1/4, down 7 3/4 cents,

Nearby Cash  is at $9.56 1/4, down 9 3/4 cents,

Jul 25 Soybeans  are at $10.30, down 7 1/4 cents,

Nov 25 Soybeans  are at $10.20 1/2, down 8 1/2 cents,

New Crop Cash  is at $9.57, down 8 1/4 cents,