Soy Complex Mixed on Monday
Related Stocks
 ZSK24 - Soybean
SymLastChgPct
ZSK241191-4s-1-0-0.08%
ZSN241205-2s-1-2-0.10%
ZSPAUS.CM11.3491-0.0027-0.02%
ZSX211234-0s+21-6+1.79%
ZSPX21US.CM12.3270+0.2300+1.90%

Old crop soybean futures closed in the red, while new crop rallied late in the session. May and July contracts were down double digits at the close, but new crop gained as much as 5 1/4 cents. Soymeal ended the session $8.90 to $11/ton weaker. BO futures were mixed as in-delivery May gave back 15 points, but the other nearbys were up 67 to 96 points.

USDA’s weekly Crop Progress report showed farmers soybean planting progressed from 8% complete to 24% complete over the week ending 5/2. The 5-yr average is to be 11% planted as of now. IA soybean planting rolled from 6% complete to 43% and is now 29 ppts ahead of their average.

USDA’s March crush data showed 188.2 bbu of soybeans were processed in March. Which was a tad shy of the 188.4 mbu expected. MYTD soybean crush is 1.3 bbu through March, or 59.4% of USDA’s forecast with 5 months remaining. Barring any changes made in next Wednesday’s report, crushers need to average 177.85 mbu/month to hit the 2.19 bbu target. BO stocks are were tighter than the trade average guess, at 2.245b lbs.  

USDA reported 143,418 MT of beans shipped during the week that ended April 29. That was a MY low and down 62% from the same week last season. The full season’s soybean exports remain on record pace, 64% above 19/20, with 2.037 bbu shipped through 4/29. That is 89% of USDA’s April export forecast. The May update is scheduled for next Wednesday the 12th.

May 21 Soybeans  closed at $15.60 1/4, down 10 3/4 cents,

Jul 21 Soybeans  closed at $15.24, down 10 1/4 cents,

Nearby Cash was $15.32 2/3, down 13 1/4 cents,

Nov 21 Soybeans  closed at $13.44 3/4, up 5 cents,

New Crop Cash was $12.95 3/4, up 4 5/8 cents,




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