Soybeans Bulls Holding Their Ground at Midday
Soybeans are trying to sneak out some gains at Tuesday’s midday, with contracts 1 to 4 cents higher. The cmdtyView Cash Bean price is up 1 ½ to $10.03 3/4. Soymeal futures are up $2.10/ton so far on the day, with Soy Oil futures back down 16 points at midday.
The US soybean crop was tallied at 66% planted as of May 18, 13 percentage points ahead of the average pace. Of the major 18 states the USDA reports on, just KY and MS were reported behind normal. The crop was listed at 34% emerged, with the 5-year average at 23% by that date.
Chinese April import data shows 4.6 MMT originated from Brazil, down 22.2% from last year, with 1.38 MMT sourced via the US, which is down 43.7% from 2024.
Jul 25 Soybeans are at $10.52 1/4, up 1 1/2 cents,
Nearby Cash is at $10.03 3/4, up 1 1/2 cents,
Aug 25 Soybeans are at $10.49 3/4, up 2 cents,
Nov 25 Soybeans are at $10.40 1/2, up 3 1/2 cents,
New Crop Cash is at $9.78 3/4, up 3 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.