The soybean market is down at midday, with contracts falling 1 to 7 cents, led by nearby futures. The cmdtyView Cash Bean price decreased by 1.75 cents to $10.11. Soymeal futures declined by $0.90 per ton, while Soy Oil fell by 4 points in the nearbys.
According to the USDA’s Export Inspections report, 547,040 metric tons (20.1 million bushels) of soybeans were shipped in the week ending June 5, marking an 81.5% increase from the previous week and more than double the volume shipped in the same week in 2024. Mexico was the largest importer, receiving 103,691 MT, followed by Japan with 92,759 MT and Egypt with 90,485 MT. Total marketing year shipments since September 1 have reached 45.19 MMT (1.66 billion bushels), up 11.5% year-over-year.
Chinese soybean imports in May reached 13.92 MMT, more than doubling the April figures and exceeding the 10.22 MMT imported in May 2024. Meanwhile, analysts anticipate a 1 percentage point increase in soybean conditions, bringing it to 68% good/excellent.
