The weekly Crop Progress report from NASS showed that 95% of the U.S. soybean crop had been planted by June 7, which is 2 percentage points ahead of normal. Crop emergence reached 88%, 6 percentage points faster than average. Good-to-excellent crop ratings improved by 1 percentage point to 66%, while the Brugler500 Index rose 1 point to 368.

NOPA reported that U.S. soybean crush during May totaled 208.785 million bushels, significantly below trade expectations and near the lower end of estimates. However, it was still 8.27% higher than a year ago, though 1.45% lower than April. Soybean oil stocks were reported at 1.735 billion pounds, below expectations and down 10.9% from the previous month.

Export inspections for the week ending June 11 showed soybean shipments of 522,687 metric tons (19.205 million bushels). This was up 26.8% from the previous week and more than double the volume shipped during the same week last year. Egypt was the largest destination, receiving 218,249 metric tons, followed by China with 136,259 metric tons and Mexico with 64,464 metric tons. Total soybean shipments for the marketing year now stand at 36.693 million metric tons (1.345 billion bushels), down 19.5% from the same period last year.