Soybean Market Shows Mixed Movement Amidst Planting Progress

The soybean market experienced gains of 2 to 4 cents in nearby contracts on Monday, although new crop contracts slipped by ¼ cent. CmdtyView reported a national front month Cash Bean price up 2 ¾ cents, settling at $10.06 ¾. Soymeal futures declined by $2.50 to $3 per ton, while Soy Oil futures recovered, increasing by 60 to 65 points.

USDA Export Inspections Report

According to the USDA’s Export Inspections report, a total of 439,341 metric tons (16.14 million bushels) of soybeans were shipped during the week ending April 24. This figure represents a decline of 21.5% from the prior week but marks a substantial 59.1% increase compared to the same week in 2024. China emerged as the leading importer, receiving 205,463 metric tons. Other notable shipments included 61,071 metric tons to Mexico and 57,069 metric tons to Germany. For the marketing year to date, soybean shipments have amounted to 43.12 million metric tons (1.584 billion bushels), reflecting an 11.3% increase from the same point last year.

Current Soybean Planting Progress

As of Sunday, the U.S. soybean crop was reported to be 18% planted, a significant advance of 10 percentage points over the previous week and ahead of the 5-year average rate of 12%.

Market Prices Overview

May 25 Soybeans closed at $10.52, an increase of 2 ¼ cents.

Nearby Cash registered $10.06 ¾, up 2 ¾ cents.

July 25 Soybeans concluded at $10.62 ½, rising by 3 ¼ cents.

November 25 Soybeans closed at $10.34 ¾, down ¼ cent.

New Crop Cash was marked at $9.73 ½, decreasing by ½ cent.

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 further information, please view the Barchart Disclosure Policy
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