The soybean market s taking back some recent weakness on Wednesday morning, with contracts up 11 to 13 cents. Soybeans saw some slight losses on Tuesday, with contracts down 3 to 4 cents in the front months. Preliminary open interest was up 9,128 contracts on Tuesday. CmdtyView’s national front month Cash Bean price was down 4 cents at $9.89 3/4. Soymeal futures were steady to down $2.60/ton, with Soy Oil futures down another 3 to 39 points. There were 2 deliveries for May soybeans overnight, with none issued for meal and oil.

Later on Tuesday, China and the US agreed to a meeting in Geneva, Switzerland on Saturday. The meeting will take place between Treasury Secretary Bessent and Chinese Vice Premier He Lifeng.

Soybean planting was pegged at 30% complete as of Sunday per USDA, which is ahead of the 23% average pace and the 24% from the same date last year. Illinois was the only of the 18 states to be reported behind their respective average planting pace. The US crop was listed at 7% emerged, 2 percentage points faster than average.

Census data from Tuesday morning showed soybean exports for March at 3.498 MMT (128.54 mbu), which was the 4^th largest total for the month since 1967. That was a 12.22% increase from February and 14.54% above the same month in 2024. Marketing year shipments are now 42 MMT (1.545 bbu), which is well above a year ago. Meal exports were a March record, of 1.593 MMT, with bean oil exports at 155,959 MT, a 15-year high.

Brazil’s soybean area is expected to rise by ~500,000 hectares (1.24 million acres) in 2025/26 according to estimates from AgroConsult.

May 25 Soybeans  closed at $10.34 3/4, down 3 1/4 cents, currently up 3 1/4 cents

Nearby Cash  was $9.89 3/4, down 4 cents,

Jul 25 Soybeans  closed at $10.41 1/4, down 4 1/4 cents, currently up 12 1/2 cents

Nov 25 Soybeans  closed at $10.19 1/4, down 3 cents, currently up 13 cents

New Crop Cash  was $9.56 1/4, down 3 cents,