Soybean futures closed lower on Monday, with losses ranging from 5 to 13 ¾ cents, as the cmdtyView national average Cash Bean price fell to $10.95 ¾. Soymeal futures experienced a slight uptick, while Soy Oil futures dropped by 58 to 75 points. The market faced pressure following President Trump’s comments on Iran’s willingness to negotiate, overshadowing a modest rise in crude oil prices.

The USDA’s Crop Progress report indicated that 6% of the U.S. soybean crop has been planted, significantly ahead of last year’s 2% and the five-year average. Additionally, the Export Inspections report showed soybean shipments at 814,562 MT, marking a 1.2% increase from the previous week and a notable 46.8% year-over-year rise, with China being the largest destination.

Market professionals should note the contrasting trends in planting progress and export activity, which could influence soybean prices moving forward, particularly as the global supply landscape shifts with Brazil’s harvest nearing completion.

Source: nasdaq.com