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This is your Soybeans podcast.
Hey everyone, welcome to the Daily Soybeans Price Tracker with Vanessa Clark. I'm your host Vanessa, and today we're diving into the latest on soybean prices, planting progress, and what's shaking up the markets.
As of this morning on April 29th, Chicago soybean futures are feeling a bit of modest weakness, trading fractionally to 2 cents per bushel lower across most contracts. The May '26 contract is sitting around $11.70 per bushel, down about 6 and a half cents, while July '26 is at roughly $11.87, off 4 and three-quarters cents, and November new crop is near $11.64, down just a cent and a half. Cash bean prices are hovering at about $11.10 per bushel nationally, according to cmdtyView data. Soymeal is edging up slightly by a dollar or two per ton, but soyoil is dipping, keeping beans stuck in this sideways range.
Planting is roaring ahead in the US—USDA reports 23% of soybeans are in the ground as of April 26th, way ahead of the 12% average, with 8% emerged versus just 1% typically. States like Illinois, Indiana, and Ohio are crushing it, though Iowa's a tad behind. Analysts expect US soybean acreage to bump up 1 to 2 million acres this year as farmers switch from corn due to sky-high fertilizer costs—yields projected around 52 bushels per acre.
Exports are mixed: last week's shipments hit 628,000 tonnes, down from prior but 37% above last year, though total marketing year volume lags 24% behind. Brazil's harvest is wrapping up strong at 179 million metric tonnes, but dry weather there could trim second-crop yields. Eyes are on next month's US-China trade summit and ongoing global tensions like the Strait of Hormuz issues boosting energy prices.
Traders, keep watching that 1160 support on July beans and 1200 resistance—sideways chop likely continues. Smart move: track your local basis and lock in sales if prices tick toward the top of this range.
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