As of Friday morning, soybean is trading with an increase of 4 to 5 and a half cents. Futures fell 5 to 6 cents on Thursday. Open interest increased to 4,628 contracts on Thursday. CmdtyView’s national average cash bean price was down 5 3/4 cents at $9.88. Soymeal futures were down $1.10 to $2.70 on Thursday, with soy oil futures 11 to 21 points higher on the day. There were another 84 deliveries for January soybeans overnight, including 52 for bean meal and 166 for January soybean oil.
The USDA in Thursday’s export sales report estimated soybean sales of 877,914 metric tons in the week ending Jan. 1, below expectations of between 0.75-1.3 MMT for 2025/26. This was a 7-week low but well above the same week last year. China was the buyer of 470,100 MT, while 173,200 MT was sold to Egypt.
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Soybean meal bookings were only 158,143 MT, beating the estimated 100,000-350,000 MT. Soybean oil sales were 24,874 MT, near the top end of expectations of 0-30,000 MT.
According to the census, exports in October stood at 5.264 MMT (197.1 MBU), down 43.05% from last year and the lowest since 2008/09. Soybean meal exports in October reached a record 1.393 MMT, up 5.7% from the previous month.
Chinese state warehouseman Sinograin has issued an auction of 1.1 MMT of imported soybean (through 2022-2025) for January 13.
WASDE data will be released on Monday, with the monthly report expected to show 2025/26 soybean ending stocks number at 295 mbu, according to a Bloomberg survey of analysts. This will be an increase of 5 MBU per month.
26 January soybean Closed at $10.47, down 5 3/4 cents, currently up 5 ¼ cents
cash nearby Was $9.88, down 5 3/4 cents,
26 March soybean Closed at $10.61 1/4, down 5 3/4 cents, currently up 5 ¼ cents
26 May Soybean Closed at $10.73 1/4, down 5 1/2 cents, currently up 5 cents
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