Soybeans are trading with Tuesday AM 3 to 6 cent gains Futures slipped lower in the front months into the Monday close, down ¾ to 1 ½ and ½ to 2 ¼ cents higher in the deferreds. Open interest was down 5,075 contracts on Monday. The cmdtyView national average Cash Bean price was down 3/4 cent at $11.01 1/4. Soymeal futures were down $2.40 to $6.70 on the day, with Soy Oil futures up 102 to 147 points.
The weekly Crop Progress report from NASS showed the US soybean crop was pegged at 12% planted by April 19. That is well above the 5% average pace for this time of year and the 7% from last year.
