Soybeans posted Monday losses of 5 to 7 cents across most contracts. CmdtyView’s national front month Cash Bean price was down 6 cents at $9.79 1/2. Soymeal futures were down $2.70/ton, as Soy Oil futures were back down 7 to 9 points.
The US soybean crop was listed at 8% planted as of Sunday, now ahead of the 5-year average pace of 5%.
Weekly Export Inspections data tallied corn shipments at 550,924 MMT (20.24 mbu) in the week that ended on April 17. That was down 0.7% from the week prior but 24.2% above the same week last year. Egypt was the largest destination of 173,272 MT, with 101,074 MT headed to Mexico, and just 67,785 MT to China. Marketing year soybean shipments are now 42.67 MMT (1.57 bbu), an increase of 10.9% from the same week last year.
Commitment of Traders data tallied specs in soybean futures and options at a net long of 26,169 contracts on April 15, a move of 76,616 contracts from the previous net short position.
May 25 Soybeans closed at $10.29 1/2, down 7 cents,
Nearby Cash was $9.79 1/2, down 6 cents,
Jul 25 Soybeans closed at $10.41 1/2, down 6 1/4 cents,
Nov 25 Soybeans closed at $10.25 3/4, down 6 3/4 cents,
New Crop Cash was $9.64, down 6 3/4 cents,
