Crush margins remain strong and are at new all-time highs, reaching 3.67 ¾ using the CBoT formula. D4 RIN values are above $1.90/gallon, the highest since late 2022.

According to NASS's weekly Crop Progress report, 23% of the U.S. soybean crop had been planted as of April 26, well above the 12% average pace for this time of year. Of the 18 major states, IL (+18% vs. average), IN (+27%), MN (+9%), NE (+11%), and OH (+12%) showed a faster planting pace. Slower-than-average planting was reported in IA (-2% vs. average), MI (-2%), and WI (-1%). National emergence was at 8%, compared to the average of 1%.

Planting progress is expected to continue over the next week, particularly in areas stretching from the Dakotas through KS and into much of IL, according to NOAA's 7-day QPF.