On April 26, 2023, soybean prices increased by 10 to 13.5 cents for the 2026 contracts, with the cmdtyView national average cash bean price rising to $11.16. Soymeal futures gained $1.50 to $9.50, and soy oil futures were up 27 to 36 points. Assumed crush margins are reportedly exceeding 2022 highs.
The USDA’s FGIS reported soybean export shipments at 628,826 MT (23.1 mbu) for the week ending April 23, a decrease of 16.9% from the previous week but 36.9% higher than the same week last year. China was the leading destination, importing 247,121 MT.
According to the latest weekly Crop Progress report, 23% of the U.S. soybean crop was planted by April 26, surpassing the 12% average for this time of year, with emergence recorded at 8% compared to a typical 1%.
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