Soybean Aug '28 (ZSQ28)

Soybeans fell to pressure on the New Years Eve session, with contracts down 13 to 16 cents at the close. There were 1,062 deliveries issued against January beans on FND.  The cmdtyView national average Cash Bean price as 15 ¼ cents lower at $9.64 3/4. Soymeal futures were $1.50 to $2.90/ton lower, with Soy Oil futures down 77 to 88 points on the day. There were no deliveries for January soy meal, with 7 issued for Jan bean oil.

The market will be closed on Thursday for New Years Day, with a hard open at 8:30 am CST on Friday. 

CFTC data was delayed due to the backlogged reports from the shutdown as well as last week’s holiday, with Commitment of Traders data showing, managed money at a net long of 110,403 contracts. That was a drop of 37,375 contracts from the week prior.

USDA gave us another weekly update for the week ending on 12/18 this morning, with 1.056 MMT of soybeans sold, which failed to reach trade expectations of between 1.4 to 2.4 MMT. That was down 55.... Read more