Soybeans were under pressure following USDA’s reports this morning, with contracts closing 4 ¾ to 9 ¾ cents in the red.  CmdtyView’s national front month Cash Bean price was down 9 3/4 cents at $9.56 ¼. Soymeal futures were down 80 cents to $3.20/ton on Monday, with Soy Oil futures down 4 to 29 points at the close.

This morning’s Prospective Plantings report indicated the NASS survey of producers showing intentions of 83.495 million acres for soybeans this spring. That is shy of the average trade estimates but within the 82.5 to 85.5 million acre range. If realized, it would be a 3.555 million acre drop. March 1 soybean stocks were tallied at 1.91 billion bushels, coming in slightly above trade estimates. That was also 65 mbu above the same period last year.

Weekly Export Inspections data from USDA showed a total of 793,250 MT (29.15 mbu) of soybean shipments in the week ending on 3/27. That was a 7.5% drop from the week prior but 54.1% above the same week last year. Despite the tariffs, China was still the top destination of 622,005 MT, which was 78.4% of the total export business. Marketing year shipments have totaled 40.731 MMT (1.497 bbu), which is a 9.8% increase vs. the same week in 2024.

The monthly Fat & Oils report will be released on Tuesday, with analysts looking of ~189 mbu of soybean crushed during February. 

AgRural estimates the Brazilian soybean harvest at 82% complete as of March 27, ahead of the 74% pace at the same time last year. 

May 25 Soybeans  closed at $10.14 3/4, down 8 1/4 cents,

Nearby Cash  was $9.56 1/4, down 9 3/4 cents,

Jul 25 Soybeans  closed at $10.28 1/4, down 9 cents,

Nov 25 Soybeans  closed at $10.19 1/4, down 9 3/4 cents,

New Crop Cash  was $9.55 1/1, down 10 1/4 cents,