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Soybeans slipped lower in the front months into the Monday close, down ¾ to 1 ½ and ½ to 2 ¼ cents higher in the deferreds. The cmdtyView national average Cash Bean price was down 3/4 cent at $11.01 1/4. Soymeal futures were down $2.40 to $6.70 on the day, with Soy Oil futures up 102 to 147 points.
The weekly Crop Progress report from NASS showed the US soybean crop was pegged at 12% planted by April 19. That is well above the 5% average pace for this time of year and the 7% from last year.
Export Inspections data showed soybeans at 748,678 MT (27.51 mbu) shipped in the week that ended on April 16. That was up 1.3% from last week and 33.7% above the same week last year. China was the top destination of 446,146 MT, with 117,568 MT to Egypt and 76,804 MT to Japan. Marketing year shipments have totaled 32.17 MMT (1.182 bbu), which is down 24.7% yr/yr.
AgRural estimates the Brazilian soybean crop at 92% harvested as of Thursday. Safras & Mercado estimates the crop at 178.11 MMT, which is up 0.39 MMT from their previous number.
May 26 Soybeans closed at $11.65 3/4, down 1 1/2 cents,
Nearby Cash was $11.01 1/4, down 3/4 cent,
Jul 26 Soybeans closed at $11.81 3/4, down 1 1/4 cents,
Nov 26 Soybeans closed at $11.57 3/4, up 1 1/4 cents,
New Crop Cash was $10.95 1/4, up 1 cent,
