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Austin Schroeder

SHOCKING: Soybeans feeling modest weakness on turnaround tuesday - You Need To See This

CmdtyView Oil

Soybeans are slipping lower on Turnaround Tuesday, with contracts down 2 to 6 ½ cents. The cmdtyView national average Cash Bean price is down 5 3/4 cents at $11.10 1/2. Soymeal futures are down $2 to $2.50 across the front months, with Soy Oil futures up 55 to 65 points in the front months.

The weekly Crop Progress report from NASS showed the US soybean crop at 23% planted by April 26, well above the 12% average pace for this time of year. Of the major 18 states reported notable fast pace planting was shown in IL (+18% vs. average), IN (+27%), MN (+9%), NE (+11%), and OH (+12%). Slower than average pace was reported in just IA (-2% vs. average), MI (-2%), and WI (-1%). National level emergence was at 8%, vs. 1% on average.

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