Soybeans Turning Slight Gains on Tuesday Morning
Soybeans are 1 to 4 cents higher so far on the Tuesday morning part of the session. The soybean market posted 1 to 7 cent losses on Monday, led by the new crop contracts. Monday’s preliminary open interest was down 16,202 contracts. The cmdtyView Cash Bean price was down 1 1/4 cents to $10.11 1/2. Soymeal futures were down 20 cents to $1.60/ton, as Soy Oil was 12 to 17 points lower in the nearbys.
Weekly Crop Progress data from USDA showed 90% of the US soybean crop planted, ahead of the 88% average pace. Emergence was also ahead of normal at 75%. Conditions were up 1% to 69% good/excellent, as the Brugler500 index was up 2 points to 372.
US and China trade talks are continuing today in London, with Commerce secretary Lutnick stating the talks are going well.
USDA’s Export Inspections report indicated a total of 547,040 MT (20.1 mbu) of soybeans shipped in the week that ended on 6/5. That was up 81.5% from the previous week more than double the same week in 2024. Mexico was the largest destination of 103,691 MT, with 92,759 MT headed to Japan, and 90,485 MT to Egypt. Marketing year shipments have totaled 45.19 MMT (1.66 bbu) with since September 1, which is up 11.5% compared to the same week last year.
Jul 25 Soybeans closed at $10.56, down 1 1/4 cents, currently up 3 3/4 cents
Nearby Cash was $10.11 1/2, down 1 1/4 cents,
Aug 25 Soybeans closed at $10.47 3/4, down 3 cents, currently up 3 1/4 cents
Nov 25 Soybeans closed at $10.30 3/4, down 6 1/4 cents, currently up 1 3/4 cents
New Crop Cash was $9.72 1/4, down 6 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.