Soy Losses through Thursday Midday

Nearby soybean prices are down 9 1/4 to 14 3/4 cents so far for Thursday. Meal is backing off by another $1.70 to $3.80/ton thus far. BO prices are down by triple digits through the midday portion. 

Ahead of the weekly Export Sales report, traders estimate between 600k MT and 1.2 MMT of soybeans were sold during the week that ended 1/12. New crop bookings are estimated to come in below 100k MT. Meal sales are estimated under 250k MT for 22/23 delivery. BO sales are expected to be under 10k MT for both old crop and 23/24. 

China reported 10.13 MMT of soybeans were imported during the month of December. 

NOPA members reported a 3-yr low for Dec crush, with 177.5 mbu processed. Analysts were looking for 182.9 mbu on average, with the lowest at 174.4. BO stocks were counted at 1.791b lbs, slightly above the trade average guess.  

Brazil’s Ag Rural reported the soy harvest was 0.6% finished through 1/12. That is under the 1.2% harvest pace seen last season. 

South Korea is looking for 19k MT of non-GMO food quality soybeans. The Philippines are on the market for 45k MT of optional origin soymeal. Turkey booked 24k MT of sunflower oil via tender. 

Mar 23 Soybeans  are at $15.14 1/4, down 10 1/4 cents,

Nearby Cash   is at $14.78 3/8, down 10 1/2 cents,

May 23 Soybeans  are at $15.10, down 11 1/2 cents,

Jul 23 Soybeans  are at $15.02 1/2, down 12 1/2 cents,