Soybean futures are experiencing slight gains, with prices up 1 to 3 cents in morning trading on Monday, following a Friday close where contracts fell between 5 to 14.5 cents. The cmdtyView national average cash bean price is at $10.86, down 14.25 cents, while total soybean export commitments stand at 37.256 million metric tons, reflecting an 18% decline compared to the same period last year and falling short of USDA projections.
The EPA announced finalized Renewable Volume Obligations (RVOs) for biomass-based diesel, setting it at 8.86 billion RINS for 2026 and 8.95 billion RINS for 2027, exceeding prior proposals. Additionally, CFTC data revealed that spec funds reduced their net long position in soybean futures by 4,093 contracts as of March 24, bringing the total to 197,904 contracts. The USDA’s March Intentions report, set for release on Tuesday, is expected to indicate 85.55 million acres of soybeans to be planted this spring.
As of Thursday, Brazil’s soybean crop is 75% harvested, totaling 178.4 million metric tons, a minor increase of 0.4 million tons from previous estimates. The March 1 soybean stocks are anticipated at 2.067 billion bushels, an increase of 158 million bushels year-over-year.
