The soybean market closed with mixed action on Tuesday, as front months were down 3 to 6 cents. New crop November was up 1 ¼ cents. CmdtyView’s national front month Cash Bean price was down 6 cents at $9.83. Soymeal futures posted losses of 30 cents to $2.90/ton, with Soy Oil futures were back up 60 to 101 points.
US soybeans are 2% planted as of April 13, in line with the 5-year average pace at 2%. Some fringe states were ahead of normal, including AR, LA, MS, and TN, as MO is 3 percentage points ahead of normal. All other states were at or below normal.
NOPA data from this morning showed a total of 194,55 mbu of soybeans crushed during March. That was a sharp 9.38% increase from last month but down 0.94% from last year. Soybean oil stocks were tallied at 1.498 billion pounds, which was down 19.07% from last year and 0.34% below the end of February.
May 25 Soybeans closed at $10.36, down 5 3/4 cents,
Nearby Cash was $9.83, down 6 cents,
Jul 25 Soybeans closed at $10.46 1/2, down 3 3/4 cents,
Nov 25 Soybeans closed at $10.29 3/4, up 1 1/4 cents,
New Crop Cash was $9.68 3/4, up 3/4 cent,
