Soybeans Falling Lower on Tuesday
The soybean market is down 7 to 12 cents so far on Tuesday, with pressure coming from a drop in bean oil. CmdtyView’s national front month Cash Bean price is down 10 1/2 cents at $9.95 1/4. Soymeal futures are up $4/ton, with Soy Oil futures were back down 115 points.
A private export sale of 110,000 MT of soybeans to unknown for 2024/25 were announced by the USDA this morning.
The US soybean crop was listed at 18% planted as of Sunday, a move of 10 percentage points on the week and ahead of the 5-year average pace of 12%. The only of the 18 states USDA reports on to be lagging normal was KY, with the rest at or above the average planting pace.
May 25 Soybeans are at $10.40 3/4, down 11 1/4 cents,
Nearby Cash is at $9.95 1/4, down 10 1/2 cents,
Jul 25 Soybeans are at $10.52 1/2, down 10 cents,
Nov 25 Soybeans are at $10.25, down 9 3/4 cents,
New Crop Cash is at $9.64 3/4, down 9 3/4 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.