Soybean futures came back from double digit losses earlier in the day to post 1 to 2 cent gains on Tuesday. Weakness was still seen in soy meal, down $5.30/ton, with front month soy oil down 13 points. Soybean acreage is estimated at 89.4 million acres in 2018 by Informa, above the current USDA projection of 89 million acres. Soybean planting progress was at or above normal for most states on Sunday, with exceptions for MN, ND, SD, and WI. This morning’s NOPA report showed soybean crush during April by NOPA members was 161.016 mbu. That was below last month but slightly above estimates and 15.7% larger than last year. Soy oil stocks were shown at 2.092 billion pounds.

Jul 18 Soybeans closed at $10.18 3/4, up 1 cent,

Aug 18 Soybeans closed at $10.22, up 1 cent,

Sep 18 Soybeans closed at $10.22 3/4, up 2 cents,

Jan 19 Soybeans closed at $10.28 1/2, up 3/4 cent,

Jul 18 Soybean Meal closed at $382.30, down $5.30,

Jul 18 Soybean Oil closed at $31.12, down $0.13

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