Soybean prices fell on Monday, with futures declining between 5 to 13.75 cents. The cmdtyView national average cash bean price decreased by 13.5 cents to $10.95¾. Soymeal futures showed mixed results, and Soy Oil futures fell by 58 to 75 points. This decline occurred against a backdrop of constrained crude oil prices, which rose only $1.42 after discussions between the U.S. and Iran broke down.
As of Sunday, 6% of the U.S. soybean crop had been planted, significantly up from 2% at the same time last year and above the five-year average. In trade data, 814,562 metric tons (29.93 million bushels) of soybeans were shipped for the week ending April 9, marking a 1.2% increase from the previous week and a 46.8% increase year-over-year. China remained the largest destination, accounting for 345,815 metric tons, while Egypt and Mexico received 224,841 metric tons and 80,955 metric tons, respectively. Year-to-date shipments total 31.51 million metric tons, down 25.2% from the same period last year.
