The soybean market posted 2 to 4 cent gains in the nearby contracts on Monday, with new crop down ¼ cent on the day. CmdtyView’s national front month Cash Bean price as up 2 3/4 cents at $10.06 3/4. Soymeal futures were down $2.50 to $3/ton, with Soy Oil futures were back up 60 to 65 points.
USDA’s Export Inspections report indicated a total of 439,341 MT (16.14 mbu) of soybeans shipped in the week that ended on 4/24. That was down just 21.5% from the previous week but 59.1% above the same week in 2024. China was the top destination of 205,463 MT, with 61,071 MT headed to Mexico and 57,069 MT to Germany. Marketing year shipments have totaled 43.12 MMT (1.584 bbu), which is up 11.3% compared to the same week last year.
The US soybean crop was listed at 18% planted as of Sunday, a move 10 percentage points on the week and ahead of the 5-year average pace of 12%.
May 25 Soybeans closed at $10.52, up 2 1/4 cents
Nearby Cash was $10.06 3/4, up 2 3/4 cents
Jul 25 Soybeans closed at $10.62 1/2, up 3 1/4 cents
Nov 25 Soybeans closed at $10.34 3/4, down 1/4 cent
New Crop Cash was $9.73 1/2, down 1/2 cent
