Soybeans are down 8 to 12 cents in the front months on Tuesday. There were 110 contracts deliveries overnight in May soybeans. The cmdtyView national average Cash Bean price is down 10 3/4 cents at $11.44 1/2. Soymeal futures are down 60 cents to $2.20 higher on the session, with Soy Oil futures 13 to 30 points higher on the day.
The weekly Crop Progress report from NASS showed the US soybean crop at 33% planted by May 3, still well above the 23% average pace for this time of year. Emergence was at 13%, vs. 5% on average.
Census trade date was released for March this morning, with a total of 3.949 MMT (145.11 mbu) of soybeans shipped. That was up 12.89% from a year ago but down 5.87% from February. Meal exports were a March record at 1.882 MMT, with bean oil at 70,776 MT.
May 26 Soybeans are at $11.95 3/4, down 11 3/4 cents,
Nearby Cash is at $11.44 1/2, down 10 3/4 cents,
Jul 26 Soybeans are at $12.12, down 10 3/4 cents,
Nov 26 Soybeans are at $11.88 3/4, down 8 cents,
New Crop Cash is at $11.27 3/4, down 8 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.
