Mixed Results in Soybean Market Amid Planting Activity

The soybean market showed a mixed performance on Tuesday, with front months declining between 3 to 6 cents. However, new crop November experienced a slight increase of 1 ¼ cents. CmdtyView reported a national front month cash bean price decrease of 6 cents, settling at $9.83. Soymeal futures faced losses ranging from 30 cents to $2.90 per ton, whereas soy oil futures rebounded, rising by 60 to 101 points.

Current Soybean Planting Progress

As of April 13, U.S. soybean planting reached 2%, consistent with the five-year average. Some states, such as Arkansas, Louisiana, Mississippi, and Tennessee, advanced ahead of typical timelines, while Missouri is 3 percentage points ahead of its usual pace. Conversely, most other states lagged at or below normal planting rates.

Crushing Data Insights

Recent NOPA data revealed a total of 194.55 million bushels of soybeans were crushed in March, marking a notable 9.38% increase from February but down 0.94% year-over-year. The current soybean oil stocks are recorded at 1.498 billion pounds, representing a 19.07% decline from the previous year and a slight decrease of 0.34% from the end of February.

Market Closing Prices

May 25 Soybeans closed at $10.36, down 5 3/4 cents.

Nearby Cash was reported at $9.83, down 6 cents.

Jul 25 Soybeans ended at $10.46 1/2, decreasing by 3 3/4 cents.

Nov 25 Soybeans closed at $10.29 3/4, rising by 1 1/4 cents.

New Crop Cash was noted at $9.68 3/4, up 3/4 cent.

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