As of June 12, soybean futures have seen a moderate increase of 1 to 2 cents, with July contracts closing stable at $10.69 3/4. However, the USDA reported that U.S. soybean planting is at 93% completion, slightly below the five-year average of 94%. Notably, the Brugler500 index dropped 5 points to 367, reflecting a 2% decline in good/excellent crop conditions at 66%.
Export inspections data revealed soybean shipments at 215,803 MT, a significant drop of 61.4% from the previous week, with total marketing year shipments at 45.416 MMT, up 11.1% from last year. Additionally, NOPA reported a record 192.83 million bushels of soybeans crushed in May, surpassing estimates by 1.37% from April, while soybean oil stocks fell 10.02% from the previous month.
