Soybean prices are mixed as of midday, with front-month futures down 1 to 3 cents and new contracts up 1 to 2 cents. The cmdtyView national average cash bean price decreased by 2.5 cents to $10.68 ½. Soymeal futures fell by $1.30, while soy oil futures rose by 115 to 147 points.
The weekly Export Inspections report indicated soybean shipments of 241,045 metric tons (8.86 million bushels) for the week ending June 18, marking a 54.8% increase from the previous week but 54.8% lower than the same week last year. Mexico was the largest destination, receiving 72,877 MT, followed by China with 69,508 MT and Indonesia with 27,399 MT. Cumulative shipments for the marketing year now total 36.848 million metric tons (1.354 billion bushels), down 19.3% from last year.
According to the NOAA 7-day forecast, areas in eastern Nebraska, Iowa, northern Indiana, Illinois, and Ohio will experience limited precipitation, while the Dakotas through Kansas may see 1 to 2 inches, with Missouri expecting heavier totals.
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