Soybean Prices Slip While Export Commitments Rise

The soybean market experienced a dip of 1 to 2 cents in the front months but saw a gain of 1½ cents in November. CmdtyView reported a national front month cash bean price decline of 2 cents, bringing it to $10.03 ¾. Meanwhile, soymeal futures rose by $1.80 per ton, while soy oil futures declined by 36 points in today’s session. It’s important to note that May options expire today.

Price Limit Changes and Tariff Developments

The Chicago Board of Trade (CBOT) announced on Thursday that price limits will increase by a nickel to 75 cents beginning May 1.

In international news, overnight China announced some tariff exemptions. Though soybeans were not included in this relief, the move may indicate economic challenges faced by Beijing.

Export Sales Update

According to Thursday morning’s Export Sales report, total export sale commitments reached 47.056 million metric tons (MMT), which is 13% higher than the same period in 2024. This figure represents 95% of the USDA’s export estimate and maintains a 95% average pace.

Current Market Prices

As of the latest updates:

• May 25 Soybeans are priced at $10.50 ½, down 2 ¼ cents.
• Nearby Cash is at $10.03 ¾, down 2 cents.
• Jul 25 Soybeans are at $10.60, down 2 cents.
• Nov 25 Soybeans are at $10.36 ½, up 1 ½ cents.
• New Crop Cash stands at $9.73 ½, up ¾ cents.

On the date of publication, Austin Schroeder did not hold (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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