Soybeans Facing Tuesday Midday Losses

Austin Schroeder Barchart Tue May 6, 12:30PM CDT
Soy milk and pellets by bigfatcat via Pixabay

Soybeans are trading with contracts 4 to 7 cents in the red at Tuesday’s midday. CmdtyView’s national front month Cash Bean price is down 7 cents at $9.86. Soymeal futures are down $1.70/ton, with Soy Oil futures down another 31 points.

Soybean planting was pegged at 30% complete as of Sunday per USDA, which is ahead of the 23% average pace and the 24% from the same date last year. Illinois was the only of the 18 states to be reported behind their respective average planting pace. The US crop was listed at 7% emerged, 2 percentage points faster than average.

Census data from this morning showed soybean exports for March at 3.498 MMT (128.54 mbu), which was the 4th largest total for the month since 1967. That was a 12.22% increase from February and 14.54% above the same month in 2024. Marketing year shipments are now 42 MMT (1.545 bbu), which is well above a year ago. Meal exports were a March record, of 1.593 MMT, with bean oil exports at 155,959 MT, a 15-year high.

May 25 Soybeans  are at $10.31, down 7 cents,

Nearby Cash  is at $9.86 1/1, down 7 cents,

Jul 25 Soybeans  are at $10.38 1/2, down 7 cents,

Nov 25 Soybeans  are at $10.17 1/2, down 4 3/4 cents,

New Crop Cash  is at $9.55 1/1, down 4 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.