Soybeans closed the Monday session with contracts mixed, as nearbys were 1 to 3 cents weaker. New crop contracts were up as much as 3 cents in November. CmdtyView’s national front month Cash Bean price was down a penny at $9.89 3/4. Soymeal futures closed with losses of 70 cents to $2.50/ton, with Soy Oil futures 23 to 103 points lower.
The US soybean crop was listed at 2% planted by April 13, in line with the early 5-year average pace at 2%.
Weekly Export Inspections data tallied soybean shipments at 546,348 MT (20.08 mbu) in the week that ended on April 10. That was down 32.9% from the week prior but 22.1% above the same week last year. Despite all the tariff back and forth, China was the largest of 135,021 MT, with 127,122 MT to Germany, 77,081 MT headed to Vietnam and 73,147 MT to Mexico. Marketing year shipments are now 41.111 MMT (1.55 bbu), an increase of 10.8% from the same week last year.
NOPA data will be released on Tuesday, with the trade looking for March crush to total 197.6 million bushels, which would be slightly above the March 2024. Soybean oil stocks are seen totaling 1.617 billion pounds.
China’s soybean imports were at just 3.5 MMT in March, which was a crop of 36.8% from last year’s total, with first quarter imports down 7.9% y/yr to 17.11 MMT.
May 25 Soybeans closed at $10.41 3/4, down 1 cent,
Nearby Cash was $9.89 3/4, down 1 cent,
Jul 25 Soybeans closed at $10.50 1/4, down 2 3/4 cents,
Nov 25 Soybeans closed at $10.28 1/2, up 3 cents,
New Crop Cash was $9.67 1/1, up 3 cents,
