Soybean prices took a hit on Monday, dropping between 60 and 70 cents throughout the month. A larger expansion limit of $1.05 will be implemented on Tuesday. According to cmdtyView, the national average Cash Bean price decreased by 70 1/2 cents to reach $10.80 3/4. Soybean meal futures saw a fall of $11.50, down from $5.10 last month, while soybean oil futures remained below the 350-point limit in September. Oil prices slid by $4.49 on the same day.
This past weekend, U.S. Treasury Secretary Bessent held discussions with China’s Treasury secretary in Paris. They were gearing up for an upcoming meeting between President Trump and President Xi later in the month. Following the talks, it was mentioned that China is open to purchasing additional U.S. agricultural products, notably non-soybean row crops. This raised questions about the current MY of 8MMT, which is beyond what President Trump suggested last month. Later on Sunday, Trump indicated there might be a delay in talks with China but expressed hope that China would assist in resolving the blockade of the Strait of Hormuz. Although some believed there was a connection between these issues, Bessent clarified that they weren’t related.
The USDA’s FGIS reported soybean export shipments for the week ending March 12 at 966,082 tons (34.5 MB). This marked an increase of 8.9% from the week before and a significant 45.4% rise from the same week last year. China was the leading destination with 545,858 tonnes, followed by Egypt at 224,944 tonnes and Mexico at about 20,380,194 tonnes. For the 2025/26 season, the export value stood at 28.06 MMT (1.031 bbu) since September 1, reflecting a 28.3% decline year-on-year.
According to NOPA’s data released this morning, February recorded a high for crushed soybeans among its members at 208.785 mbu. This represented a 10.57% increase from the previous year. However, it showed a slight drop of 1.52% compared to January. Meanwhile, the daily milling average hit a monthly record at 7.46 mbu, the highest in NOPA’s history. Soybean oil stockpiles reached 2.08 billion pounds, up 38.37% year-over-year and 9.49% month-over-month.
By Thursday, Brazil was 61% through its soybean harvest, which is a bit behind last year’s pace of 70%, according to Agraral.
May 26th Soybean closed down 70 cents at $11.55 1/4.
Cash near me fell 70 1/2 cents to $10.80 3/4.
July 26th Soybean closed down 70 cents at $11.67 1/2.
August 26th Soybeans ended 66 cents lower at $11.52 1/4.
