Soybeans Experience Mixed Performance Amid Tariff Concerns

Soybeans exhibited some spread activity on Monday, as front-month contracts noted gains of 4 to 6 cents. In contrast, the new crop for November decreased by 3 ¼ cents. CmdtyView reported the national front month Cash Bean price increased by 6 cents, reaching $9.27. Soymeal futures rose by $1.80, now priced at $5.30 per ton, while Soy Oil futures fell by 69 to 98 points.

In trade developments, President Trump addressed the 34% retaliatory tariff imposed by China. He proposed an additional 50% tariff on Chinese goods if China does not rescind the initial tariff by Tuesday, April 8.

Export Inspections Report

According to the USDA’s Export Inspections report, a total of 804,270 metric tons (29.5 million bushels) of soybeans were shipped in the week ending April 3. This figure reflects a slight decrease of 1.1% from the previous week but shows a notable 63.5% increase compared to the same week last year. Furthermore, it ranks as the third largest shipment for this week since 2002. China was the primary destination for these exports, receiving 341,278 metric tons—shipped before the 34% tariff announcement, although it still incurs a 10% duty. Egypt received 140,658 metric tons. Overall, shipments for the marketing year have reached 41.555 million metric tons (1.527 billion bushels), marking a 10.6% increase year-over-year.

Brazilian Soybean Harvest Update

AgRural provided insight into the Brazilian soybean situation, indicating that the harvest is currently at 88% complete, compared to 85% at the same time last year.

Market Data Snapshot

May 25 Soybeans closed at $9.83, up 6 cents.

Nearby Cash was priced at $9.27, also up 6 cents.

Jul 25 Soybeans finished at $9.97, gaining 4 cents.

Nov 25 Soybeans closed at $9.81, down 3 ¼ cents.

New Crop Cash stood at $9.19 1/1, declining by 3 cents.

On the date of publication, Austin Schroeder did not hold any positions—directly or indirectly—in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. For further details, please refer to the Barchart Disclosure Policy here.

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