Soybeans slipped into the close, with contracts down 1 ¼ to 3 ¾ cents in the front months and up 1 to 2 cents across the rest of the board. The cmdtyView national average Cash Bean price was down 3 cents at $11.46. Soymeal futures were down 10 cents to $2.20 in most contracts, with Soy Oil futures 18 to 27 points lower.

The weekly Crop Progress report from NASS showed the US soybean crop at 67% planted by May 17, still well above the 53% average pace for this time of year. Michigan was the only state to be behind the average planting pace. Emergence was at 32% vs. 23% on average.

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Brazil’s soybean export estimate from ANEC is 16.1 MMT for May, a 0.1 MMT increase from the previous estimate.

Jul 26 Soybeans closed at $12.09 1/2, down 3 1/2 cents,

Nearby Cash was $11.46, down 3 cents,

Aug 26 Soybeans closed at $12.09 3/4, down 1 1/4 cents,

Nov 26 Soybeans closed at $12.03, up 2 cents,

New Crop Cash was $11.42 1/2, up 2 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Soybeans Close Tuesday with Mixed Action