Soybeans are trading with Monday losses of 9 to 12 cents across most contracts at midday with pressure coming from the products. CmdtyView’s national front month Cash Bean price is down 11 3/4 cents at $9.94 1/4. Soymeal futures are down $1.30/ton, with Soy Oil futures falling 74 points.

Export Inspections data showed a total of 324,101 MT (11.91 mbu) of soybeans shipped during the week of May 1. That was an drop of 29.2% from the previous week and 9.5% below the same week last year. Mexico was the largest destination of 81,888 MT, with 68,099 MT headed to China and 58,091 MT to Japan. Marketing year exports have totaled 43.46 MMT (1.597 mbu) since September 1, which is 11.2% above the same period last year. 

Soybean planting is expected to be tallied at 29% complete, according to a survey of analysts by Bloomberg. The data will be released later this afternoon.

Speculators in soybean futures and options were adding a total of just 7,135 contracts to their net long in the week ending on of April 29. That took their net position to 38,202 contracts as of Tuesday. 

May 25 Soybeans  are at $10.38, down 10 3/4 cents,

Nearby Cash  is at $9.94 1/4, down 11 3/4 cents,

Jul 25 Soybeans  are at $10.46 3/4, down 11 1/4 cents,

Nov 25 Soybeans  are at $10.21 1/2, down 9 cents,

New Crop Cash  is at $9.58 1/4, down 10 1/2 cents,