Soybeans are trading with contracts up 12 to 20 cents across most contracts, led by the old crop contracts. The cmdtyView national average Cash Bean price is up 17 3/4 cents at $11.54 1/2. Soymeal futures are $1.50 to $2.40 higher on the day, with Soy Oil futures 100 to 105 points higher Monday’s midday. There were 309 deliveries issued against May soybeans on Friday night, with 29 for May bean oil.
Monday morning’s Export Inspections report showed 450,145 MT (16.54 mbu) of soybeans shipped in the week of 4/30. That was 29.5% below last week but 34.1% above the same week last year. China was the largest destination of 200,896 MT, with 60,331 MT shipped to Indonesia and 47,012 MT to Mexico. The marketing year total is now 33.27 MMT (1.222 bbu) of soybeans shipped since September 1, which is 23.5% below the same period last year.
