Soybeans were 2 ¾ to 11 ¾ cents in the red on Tuesday, with the nearbys leading the charge. The cmdtyView national average Cash Bean price was down 11 1/4 cents at $11.43. Soymeal futures were down 50 cents to $1.30 on the session, with Soy Oil futures steady to 43 points higher on the day.
The weekly Crop Progress report from NASS showed the US soybean crop at 33% planted by May 3, still well above the 23% average pace for this time of year. Planting progress by state showed just IA (-2%), MI (-12%), ND (-1%), and WI (-23%) were behind average pace. Emergence was at 13%, vs. 5% on average.
