Soybeans Down Sharply. Thursday, May 15, 2025

Ahead of 9:30 a.m. CT, July corn was up 1¼¢ at $4.46¾ per bushel.

July soybeans were down 22½¢ at $10.55¼ per bushel.

July wheat contracts were higher. CBOT wheat was up 3¢ at $5.27¾ per bushel. KC wheat was up 1¾¢ at $5.24¾. Minneapolis wheat was up 1¼¢ at $5.78¼.

“Soybean oil and soybean prices declined overnight after it was reported that the U.S. Environmental Protection Agency sent its Renewable Volume Obligations (RVO) recommendations to the White House’s Office of Management and Budget for evaluation,” said Arlan Suderman, chief commodities economist at StoneX. “The industry had previously requested that the [biomass-based] diesel production mandate be raised to 5.25 billion gallons, up from 3.35 billion gallons currently. We felt that it would likely come in closer to 4.4–4.6 billion gallons, with a chance that it could approach 5 billion. Traders reacted negatively to rumors that the EPA recommended something closer to 4.6 billion gallons, but all of this is currently just unconfirmed speculation.”

This morning, USDA released the weekly U.S. Export Sales report. Naomi Blohm, senior market advisor with Total Farm Marketing, said net corn sales for 2024/2025 were pegged above expectations, while net sales for 2025/2026 were near the high end of the expected range. For soybeans, she said net sales for 2024/2025 were within the expected range, and net sales for 2025/2026 were near the high end of the expected range.

August live cattle were down $2.13 at $207.25 per hundredweight (cwt) ahead of 9:30 a.m. CT. August feeder cattle were down $3.60 at $298.38 per cwt. July lean hogs were down 43¢ at $102.03 per cwt.

July crude oil was down $1.65 at $61.03 per barrel.

The U.S. Dollar Index June contract was down to 100.69.

June S&P 500 futures were down 10 points. June Dow futures were down 74 points.

Tags: wheat, futures, live cattle, feeder cattle, lean hogs, corn, soybeans