Soybeans Slipping Early on Tuesday

Market Overview - Soybeans are currently trading with losses of 4 to 6 cents, following a previous day where futures gained between 2 ¼ to 7 ¼ cents [1] - The national average Cash Bean price increased by 3 ¾ cents to $10.90 1/4 [1] - Soymeal futures decreased by $1.00 to $2.00, while Soy Oil futures rose by 7 to 26 points [1] Export Activity - A private export sale of 161,120 MT of soybeans was reported to Mexico by USDA [2] - The Export Inspections report indicated that 1.101 MMT (40.48 million bushels) of soybeans were shipped in the week of March 19, which is 12.3% higher than the previous week and 32.1% larger than the same week last year [3] - China was the largest destination for these shipments, receiving 664,967 MT, followed by Egypt with 183,999 MT and Japan with 79,998 MT [3] - The total marketing year shipments since September 1 now stand at 29.182 MMT (1.072 billion bushels), which is 27% lower than the same period last year [3] Futures Market - May 26 Soybeans closed at $11.63 1/2, up 2 1/4 cents, but are currently down 6 1/4 cents [4] - Nearby Cash was reported at $10.89 1/4, up 2 1/2 cents [4] - July 26 Soybeans closed at $11.79, up 2 1/2 cents, currently down 6 cents [4] - November 26 Soybeans closed at $11.46 1/2, up 5 1/2 cents, currently down 4 1/4 cents [4] - New Crop Cash was reported at $10.84 1/4, up 5 1/2 cents [4]