Soybean Futures Show Modest Gains Amid Planted Crop Progress

Soybean contracts are making small gains at midday on Tuesday, with prices climbing 1 to 4 cents. The cmdtyView Cash Bean price has increased by 1 ½ cents to reach $10.03 3/4. Similarly, soymeal futures are up $2.10 per ton, while soy oil futures have dropped by 16 points as of midday.

US Soybean Crop Progress

As of May 18, the U.S. soybean crop reached 66% planted, reflecting a significant advance of 13 percentage points over the average pace. Among the 18 major states monitored by the USDA, only Kentucky and Mississippi fell behind normal planting rates. The crop is currently listed as 34% emerged, compared to a five-year average of 23% for this date.

Chinese Import Data Highlights

Recent data from China shows that in April, imports of 4.6 million metric tons (MMT) of soybeans originated from Brazil, marking a 22.2% decrease from the previous year. In the same period, 1.38 MMT were imported from the U.S., representing a substantial decline of 43.7% from 2024.

Current Soybean Prices

Jul 25 Soybeans are priced at $10.52 1/4, reflecting an increase of 1 1/2 cents.

Nearby Cash is currently valued at $10.03 3/4, also up by 1 1/2 cents.

Aug 25 Soybeans are trading at $10.49 3/4, an increase of 2 cents.

Nov 25 Soybeans have reached $10.40 1/2, up by 3 1/2 cents.

New Crop Cash is priced at $9.78 3/4, reflecting a gain of 3 1/2 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.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.