Soybean prices are experiencing losses, with the cmdtyView national average cash price down 10.5 cents to $10.87. Front-month soybeans have lost between 9 to 11 cents, while soymeal futures dropped by $3.70 to $5, and soy oil futures are down 15 to 25 points. The USDA’s monthly WASDE report will be released Thursday, with analysts estimating a soybean carryout of 349 million bushels, slightly down from 350 million in March.
Additionally, crude oil has risen by $2.48 midday before President Trump’s deadline regarding Iran, but this surge has not positively impacted grain markets. May 26 soybeans are currently priced at $11.56 1/4, and July 26 soybeans at $11.72 3/4, both showing declines.
