The bean market is trading with contracts 8 to 9 cents in the green. Soybeans saw higher trade at Tuesday’s close, with contracts up 2 to 4 cents across most front months. The cmdtyView Cash Bean price was up 2 ¼ cents to $10.03 1/2. Soymeal futures were up 70 cents to $1.50/ton on the day, with Soy Oil futures closing up 6 to 15 points.
Chinese April import data shows 4.6 MMT originated from Brazil, down 22.2% from last year, with 1.38 MMT sourced via the US, which is down 43.7% from 2024.
ANEC estimates the May Brazilian soybean exports at 14.52 MMT, which is 0.25 MMT above their previous estimate. Argentina’s export tax reduction on soybeans to 26% is set to expire at the end of June and will not be extended. The rate will revert back to 33% on July 1, with the products back up to 31% according to a Economic Ministry release on Tuesday.
Jul 25 Soybeans closed at $10.53, up 2 1/4 cents, currently up 8 ¼ cents
Nearby Cash was $10.03 1/2, up 2 1/4 cents,
Aug 25 Soybeans closed at $10.50 1/4, up 2 1/2 cents, currently up 8 cents
Nov 25 Soybeans closed at $10.41, up 4 cents, currently up 8 ¾ cents
New Crop Cash was $9.78, up 4 cents,
