Soybeans posted gains of 2 ¼ to 7 ¼ cents in the front months on Monday. The cmdtyView national average Cash Bean price was up 3 3/4 cents at $10.90 1/4. Soymeal futures were down $1.00 to $2.00, with Soy Oil futures up 7 to 26 points. Bean oil was supported late as EPA administrator Lee Zeldin indicated the RVO quotas would be released by the end of the month.
Early on Monday morning, President Trump put out a Truth Social post ordering the military to postpone strikes against Iranian power plants and energy infrastructure for 5 days after weekend talks were “good and productive.” Iran state media responded stating there was no direct contact with the US. Crude oil fell $9.36 on the day.
A private export sale of 161,120 MT of soybeans was reported to Mexico by USDA this morning.
Monday morning’s Export Inspections report showed 1.101 MMT (40.48 mbu) of soybeans shipped in the week of 3/19. That was 12.3% above the week prior and 32.1% larger than the same week last year. China was the largest destination of 664,967 MT, with 183,999 MT shipped to Egypt and 79,998 MT to Japan. The marketing year total is now 29.182 MMT (1.072 bbu) of soybeans shipped since September 1, which is 27% below the same period last year.
Brazil’s soybean harvest is estimated at 68% harvested as of Thursday, which still lags the 80% paced from last year according to AgRural.
May 26 Soybeans closed at $11.63 1/2, up 2 1/4 cents,
Nearby Cash was $10.89 1/4, up 2 1/2 cents,
Jul 26 Soybeans closed at $11.79, up 2 1/2 cents,
Nov 26 Soybeans closed at $11.46 1/2, up 5 1/2 cents,
New Crop Cash was $10.84 1/4, up 5 1/2 cents,
