The soybean market is trading with Friday losses of 24 to 26 cents in the nearby contracts CmdtyView’s national front month Cash Bean price is down 25 1/4 cents at $9.30. Soymeal futures were down $3.20/ton, with Soy Oil futures back down 1390 points.
In response to President Trump’s reciprocal tariffs, China issued a retaliatory tariff of 34% on all US goods overnight. There are just under 600,000 MT in unshipped sales to China, with 2.02 MMT in unshipped sales to unknown destinations (some of which may include China).
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The USDA Export Sales report showed 46.17 MMT in commitments as of March 27, which is 14% above the same period last year. That is 93% of the USDA forecast, lagging the 94% average pace.
May 25 Soybeans are at $9.85 3/4, down 25 3/4 cents,
Nearby Cash is at $9.30, down 25 1/4 cents,
Jul 25 Soybeans are at $10.01, down 25 1/4 cents,
Nov 25 Soybeans are at $9.92 1/4, down 24 3/4 cents,
New Crop Cash is at $9.30 3/4, down 24 1/2 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.
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