The soybean market posted 1 to 7 cent losses on Monday, led by the new crop contracts. The cmdtyView Cash Bean price was down 1 1/4 cents to $10.11 1/2. Soymeal futures were down 20 cents to $1.60/ton, as Soy Oil was 12 to 17 points lower in the nearbys.
Weekly Crop Progress data from USDA showed 90% of the US soybean crop planted, ahead of the 88% average pace. Emergence was also ahead of normal at 75%. Conditions were up 1% to 69% good/excellent, as the Brugler500 index was up 2 points to 372.
US Treasury Secretary Bessent, USTR Greer, and Commerce Secretary Lonick are meeting Chinese counterparts today in London for trade talks.
USDA’s Export Inspections report indicated a total of 547,040 MT (20.1 mbu) of soybeans shipped in the week that ended on 6/5. That was up 81.5% from the previous week more than double the same week in 2024. Mexico was the largest destination of 103,691 MT, with 92,759 MT headed to Japan, and 90,485 MT to Egypt. Marketing year shipments have totaled 45.19 MMT (1.66 bbu) with since September 1, which is up 11.5% compared to the same week last year.
Chinese soybean imports totaled 13.92 MMT in May, which was more than double the April total and above the 10.22 MMT from May 2024.
Jul 25 Soybeans closed at $10.56, down 1 1/4 cents,
Nearby Cash was $10.11 1/2, down 1 1/4 cents,
Aug 25 Soybeans closed at $10.47 3/4, down 3 cents,
Nov 25 Soybeans closed at $10.30 3/4, down 6 1/4 cents,
New Crop Cash was $9.72 1/4, down 6 cents,
