The soybean market posted strength on Friday, with contracts up 13 to 21 cents at the close. Front month May rallied 65 ¾ cents from last Friday, with new crop up 41 ¼ cents this week. CmdtyView’s national front month Cash Bean price was up 13 3/4 cents at $9.90 1/2. Soymeal futures were up $1.70 to 2.50/ton, with Soy Oil futures 79 to 112 points higher.

Overnight, China retaliated to the increased US tariffs, taking the total to 125% tariff on all US goods.

A private export sale of 121,000 MT of soybeans were reported as sold to unknown destinations this morning, with 55,000 MT for old crop and 66,000 MT for new crop. 

NOPA data will be released on Tuesday, with the trade looking for March crush to total 197.6 million bushels, which would be slightly above the March 2024. Soybean oil stocks are seen totaling 1.617 billion pounds. 

Commitment of Traders data showed a total of 20,600 contracts added to the soybean futures and options position for spec traders, at 50,477 contracts as of Tuesday. Commercials were cutting 21,775 contracts from their net short to 81,365 contracts.  

USDA’s Export Sales report brought the total soybean export commitments to 46.343 MMT through April 3. That is 93% of the USDA projection of 1.825 billion bushels and behind the 94% 5-year average pace. Export shipments are now at 84% of the USDA number ahead of the 83% average shipping pace.

May 25 Soybeans  closed at $10.42 3/4, up 13 3/4 cents,

Nearby Cash  was $9.90 1/2, up 13 3/4 cents,

Jul 25 Soybeans  closed at $10.53, up 16 1/4 cents,

Nov 25 Soybeans  closed at $10.25 1/2, up 20 3/4 cents,

New Crop Cash  was $9.64 0/1, up 20 1/2 cents,