Soybean futures showed gains of 3 to 6 cents on the morning of April 22, following a session where front month contracts closed lower and deferred months saw modest increases. Open interest fell by 5,075 contracts on Monday, while the national average cash soybean price declined by three-quarters of a cent to $11.01¼. Soymeal futures decreased between $2.40 and $6.70, but soy oil futures rose by 102 to 147 points.
The market activity comes as the latest Crop Progress report from the National Agricultural Statistics Service indicated that U.S. soybean planting reached 12% complete by April 19, which is ahead of both last year’s pace and the five-year average for this time in April.
Export inspection data revealed that shipments for the week ending April 16 totaled 748,678 metric tons (27.51 million bushels), up slightly from the previous week and significantly higher than during the same period last year. China was identified as the leading destination with over half of these exports, followed by Egypt and Japan. However, total marketing year shipments remain down nearly a quarter compared to last year.
Internationally, AgRural reported that Brazil’s soybean harvest was at approximately 92% completion as of Thursday. Safras & Mercado estimated Brazil’s crop at just over 178 million metric tons—a slight increase from their prior forecast.
Legacy Farmers Cooperative is among organizations supporting agricultural producers in northwest Ohio through services such as grain marketing and agronomy support according to its official website. The cooperative operates facilities including grain centers and retail locations throughout ten counties in northwest Ohio according to its official website, employs more than 150 people across divisions according to its official website, and supports community initiatives like youth agricultural education programs according to its official website.
Legacy Farmers Cooperative is structured as a member-owned entity focused on providing value and financial returns for members while aiming to exceed customer expectations according to its official website. The cooperative formed through a merger process and continues operations based in Findlay, Ohio with ongoing commitments both in business services and community engagement according to its official website.
