The soybean market showing 1 to 5 cents gains so far on Monday, fading off early weakness. CmdtyView’s national front month Cash Bean price is up 4 cents at $10.07. Soymeal futures are slipping back another $2/ton, with Soy Oil futures back up 76 points so far.
USDA’s Export Inspections report indicated a total of 439,341 MT (16.14 mbu) of soybeans shipped in the week that ended on 4/24. That was down just 21.5% from the previous week but 59.1% above the same week in 2024. China was the top destination of 205,463 MT, with 61,071 MT headed to Mexico and 57,069 MT to Germany. Marketing year shipments have totaled 43.12 MMT (1.584 bbu), which is up 11.3% compared to the same week last year.
NASS will update the planting progress data later this afternoon with the trade looking for 16% of the soybean crop to be planted, vs. 18% last year for the same week.
Soybean spec funds were adding 4,898 contracts to their fresh net long position in futures and options trading, taking the net long to 31,067 contracts by Tuesday according to CFTC data.
May 25 Soybeans are at $10.53 1/2, up 3 3/4 cents,
Nearby Cash is at $10.07, up 4 cents,
Jul 25 Soybeans are at $10.63 1/2, up 4 1/4 cents,
Nov 25 Soybeans are at $10.36 1/4, up 1 1/4 cents,
New Crop Cash is at $9.76 3/4, up 1 3/4 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.
/Western%20Digital%20Corp_%20logo%20on%20sign-by%20360b%20via%20Shutterstock.jpg)
/PayPal%20Holdings%20Inc%20sign%20on%20building-%20by%20Sundry%20Photography%20via%20Shutterstock.jpg)
/Microsoft%20Corporation%20logo%20on%20sign-by%20Jean-Luc%20Ichard%20via%20iStock.jpg)
/Amazon%20-%20Image%20by%20bluestork%20via%20Shutterstock.jpg)