Soybeans were 2 ¾ to 11 ¾ cents in the red on Tuesday, with the nearbys leading the charge. The cmdtyView national average Cash Bean price was down 11 1/4 cents at $11.43. Soymeal futures were down 50 cents to $1.30 on the session, with Soy Oil futures steady to 43 points higher on the day.
The weekly Crop Progress report from NASS showed the US soybean crop at 33% planted by May 3, still well above the 23% average pace for this time of year. Planting progress by state showed just IA (-2%), MI (-12%), ND (-1%), and WI (-23%) were behind average pace. Emergence was at 13%, vs. 5% on average.
Census trade date was released for March this morning, with a total of 3.949 MMT (145.11 mbu) of soybeans shipped. That was up 12.89% from a year ago but down 5.87% from February. Meal exports were a March record at 1.882 MMT, with bean oil at 70,776 MT.
May 26 Soybeans closed at $11.95 3/4, down 11 3/4 cents,
Nearby Cash was $11.43, down 11 1/4 cents,
Jul 26 Soybeans closed at $12.11 1/2, down 11 1/4 cents,
Nov 26 Soybeans closed at $11.89 1/2, down 7 1/4 cents,
New Crop Cash was $11.27 1/4, down 7 1/2 cents,
