Soybeans are down 8 to 12 cents in the front months on Tuesday. There were 110 contracts deliveries overnight in May soybeans. The cmdtyView national average Cash Bean price is down 10 3/4 cents at $11.44 1/2. Soymeal futures are down 60 cents to $2.20 higher on the session, with Soy Oil futures 13 to 30 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. 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 are at $11.95 3/4, down 11 3/4 cents,
Nearby Cash is at $11.44 1/2, down 10 3/4 cents,
Jul 26 Soybeans are at $12.12, down 10 3/4 cents,
Nov 26 Soybeans are at $11.88 3/4, down 8 cents,
New Crop Cash is at $11.27 3/4, down 8 cents,
