CBOT soybeans nearly unchanged ahead of US planting, stocks reports
CHICAGO, March 30 (Reuters) - Chicago Board of Trade soybean futures were nearly unchanged on Monday, as traders adjusted their positions ahead of anticipated government planting and grain stocks reports, market analysts said.
Market prices earlier in the session drew support from concerns over escalation in the Iran conflict coupled with firmer crude oil prices.
Nearby soymeal futures ended lower, despite earlier gaining support from Friday's Commitments of Traders report showing that funds had added to their already long positions in the meal market.
Soybean oil futures ended higher, as crude oil rose to over $100 per barrel during the trading session. O/R
CBOT May soybeans SK26 settled 1/2 cent lower to $11.59-1/4 per bushel.
CBOT May soymeal SMK26 fell 40 cents to $314.90 per short ton.
CBOT May soyoil BOK26 ended 1.06 cent higher to end at 68.47 cents per pound.
Grain and oilseed traders are awaiting the release of the U.S. Department of Agriculture's prospective U.S. plantings and quarterly grain stocks reports on Tuesday.
Soybean seedings this spring are expected to jump as some U.S. growers shift acres away from corn and wheat, which require more costly fertilizer, analysts said ahead of the report.
Separately, the agency also reported that U.S. soybean export inspections for the week ended March 26 were at 586,427 bushels, below the range of trader expectations.
Brazilian farmers had harvested 75% of their 2025/26 soybean crop as of last Thursday, agribusiness consultancy AgRural said on Monday, up 7 percentage points from the previous week but below the 82% reported a year earlier.
President Donald Trump threatened on Monday that the U.S. would obliterate Iran's energy plants and oil wells if Tehran does not open the Strait of Hormuz, after Tehran described U.S. peace proposals as unrealistic.
