Soybeans slipped into the close, with contracts down 1 ¼ to 3 ¾ cents in the front months and up 1 to 2 cents across the rest of the board. The cmdtyView national average Cash Bean price was down 3 cents at $11.46. Soymeal futures were down 10 cents to $2.20 in most contracts, with Soy Oil futures 18 to 27 points lower.
The weekly Crop Progress report from NASS showed the US soybean crop at 67% planted by May 17, still well above the 53% average pace for this time of year. Michigan was the only state to be behind the average planting pace. Emergence was at 32% vs. 23% on average.
Brazil’s soybean export estimate from ANEC is 16.1 MMT for May, a 0.1 MMT increase from the previous estimate.
Jul 26 Soybeans closed at $12.09 1/2, down 3 1/2 cents,
Nearby Cash was $11.46, down 3 cents,
Aug 26 Soybeans closed at $12.09 3/4, down 1 1/4 cents,
Nov 26 Soybeans closed at $12.03, up 2 cents,
New Crop Cash was $11.42 1/2, up 2 cents,
