Soybeans Higher at Midday

Soybeans are showing 2 to 4 cent gains across most contracts on Monday. The cmdtyView national average Cash Bean price is 2 3/4 cents higher at $9.81 1/2. Soymeal futures are showing firmer trade on Monday, with slight gains. Soy Oil futures are back up 50 to 58 points, with support from a bounce in the crude oil market.

USDA reported a private export sale of 396,000 MT of soybeans to China this morning, with 330,000 MT for 2025/26 and 66,000 MT for 2026/27.

USDA tallied soybean export shipments at 870,199 MT (31.97 mbu) during the week ending on December 18. That was 7.4% above the week prior but 51% below than the same week in 2024. China was the top destination of 386,010 MT, with 177,758 MT headed to Mexico and 68,599 MT to Germany. Marketing year exports for 2025/26 are just 14.584 MMT (535.97 mbu) since September 1, which is now 46% lower vs. the same period last year.

Export Sales data from this morning showed 1.55 MMT of soybeans sold in the week of December 4, in the middle of analysts expecting 0.8-2 MMT. That was the second largest total for the marketing year and 32.2% above the same week last year.

Meal sales were tallied at 275,487 MT, which was on the lower end of the estimated range of 200,000-500,000 MT. Bean oil bookings were 1,213 MT, below the 5,000-25,000 MT range of estimates. 

Commitment of Traders data showed managed money slashing 35,088 contracts from their net long in soybean futures and options as of the week ending on December 9. As of that Tuesday, they were net long 180,338 contracts. 

AgRural estimates the Brazilian soybean crop at 180.4 MMT, up 1.9 MMT from their previous estimate. China’s soybean imports in November totaled 5.85 MMT from Brazil and 1.78 MMT from Argentina, with the two counties accounting for 93.9% of the total for the month.

Jan 26 Soybeans  are at $10.52, up 2 3/4 cents,

Nearby Cash  is at $9.81 1/2, up 2 3/4 cents,

Mar 26 Soybeans  are at $10.63 3/4, up 4 1/4 cents,

May 26 Soybeans  are at $10.74 1/4, up 3 3/4 cents,