Soybean Market Sees Mixed Trading Amid Strong Export Inspections

Soybeans are trading with modest activity early Tuesday, with contracts showing slight fluctuations. On Monday, the soybean market experienced minor gains, with contracts ending slightly higher, up to 2 cents. Preliminary open interest indicated a change in ownership, increasing by 1,332 contracts on Monday. The cmdtyView Cash Bean price rose by a penny, positioning it at $10.01 1/4. Meanwhile, soymeal futures decreased by 80 cents to $1.20 per ton, while soy oil futures regained 50 to 75 points.

Export Inspections Show Mixed Results

The USDA’s Export Inspections report revealed that 217,842 metric tons (8 million bushels) of soybeans were shipped during the week ending May 15. This figure reflects a significant drop of 50.4% from the previous week but marks an increase of 13.3% compared to the same week in 2024. Notably, there were no reported shipments to China; however, 65,958 metric tons were sent to Mexico and 52,843 metric tons to Egypt. Cumulatively, marketing year shipments have reached 44.13 million metric tons (1.622 billion bushels), signifying an 11.1% rise from the same period last year.

Current Planting Progress

The U.S. soybean crop is currently 66% planted as of May 18, outpacing the average pace by 13 percentage points. The crop has 34% emerged, surpassing the 5-year average of 23% for this date.

Chinese Import Trends

Recent data for April indicates that China imported 4.6 million metric tons from Brazil, a decrease of 22.2% from last year’s figures. Imports sourced from the U.S. totaled 1.38 million metric tons, reflecting a decline of 43.7% compared to 2024.

Current Soybean Contract Status

As of the latest trading session:

• July 25 Soybeans closed at $10.50 3/4, a rise of 3/4 cent, currently up by 1/2 cent.
• Nearby Cash was at $10.01 1/4, an increase of 1 cent.
• August 25 Soybeans closed at $10.47 3/4, up 1 1/2 cents, currently unchanged.
• November 25 Soybeans closed at $10.37, up 1 1/2 cents, currently up 1/2 cent.
• New Crop Cash was reported at $9.74 1/4, increasing by 1 1/2 cents.

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

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.