Soybeans are weaker at midday on Monday, as contracts are down 8 to 9 cents. CmdtyView’s national front month Cash Bean price is down 8 1/4 cents at $9.31. Soymeal futures are down $3.10/ton on the day. There were 394 deliveries issued against December soybean meal, all stopped by a Citigroup Global customer. Soy Oil futures are down 45 points so far on the session. No deliveries were issued against December bean oil.
The USDA reported a private export sale of 134,000 MT of soybeans to China for 2024/25.
Export Inspections data showed 2.088 MMT (76.73 mbu) in soybean shipments in the week of November 28. That was up 78% from the week prior and down 1.4% from last week. The largest destination was China, of 952,095 MT, with 548,461 MT headed to Italy. Shipments for the marketing year have totaled 21.793 MMT (800.74 mbu), which is 16.2% above the same time last year and a 4-year high for this week’s YTD total.
USDA’s monthly crush report will be released this afternoon, with the trade looking for crush 210.9 mbu of soybeans during October. Soy oil stocks are seen at 1.52 billion lbs.
AgRural estimates the Brazilian soybean crop at 91% planted as of Thursday faster than the 85% in the same week last year.
Jan 25 Soybeans are at $9.80 1/2, down 9 cents,
Nearby Cash is at $9.31, down 8 1/4 cents,
Mar 25 Soybeans are at $9.87, down 9 cents,
Jul 25 Soybeans are at $10.12 1/2, down 8 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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