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IPC Index — Mexico MarketSoybeans saw some slight losses on Tuesday, with contracts down 3 to 4 cents in the front months. CmdtyView’s national front month Cash Bean price was down 4 cents at $9.89 3/4. Soymeal futures were steady to down $2.60/ton, with Soy Oil futures down another 3 to 39 points.
Soybean planting was pegged at 30% complete as of Sunday per USDA, which is ahead of the 23% average pace and the 24% from the same date last year. Illinois was the only of the 18 states to be reported behind their respective average planting pace. The US crop was listed at 7% emerged, 2 percentage points faster than average.
Census data from this morning showed soybean exports for March at 3.498 MMT (128.54 mbu), which was the 4th largest total for the month since 1967. That was a 12.22% increase from February and 14.54% above the same month in 2024. Marketing year shipments are now 42 MMT (1.545 bbu), which is well above a year ago. Meal exports were a March record, of 1.593 MMT, with bean oil exports at 155,959 MT, a 15-year high.
Brazil’s soybean area is expected to rise by ~500,000 hectares (1.24 million acres) in 2025/26 according to estimates from AgroConsult.
May 25 Soybeans closed at $10.34 3/4, down 3 1/4 cents,
Nearby Cash was $9.89 3/4, down 4 cents,
Jul 25 Soybeans closed at $10.41 1/4, down 4 1/4 cents,
Nov 25 Soybeans closed at $10.19 1/4, down 3 cents,
New Crop Cash was $9.56 1/4, down 3 cents,
