Soybeans are trading with 4 to 5 cent gains the nearbys so far on Tuesday morning. Futures were in rally mode as traders came back from the thin holiday markets, with futures closing up 15 to 18 cents. Open interest slipped 2,077 contracts, indicating modest short covering. There were another 533 deliveries against January soybeans issued overnight. The cmdtyView national average Cash Bean price was 17 1/4 cents higher at $9.87 1/4. Soymeal futures were $2.20 to $4.10 higher, with Soy Oil futures up 56 to 60 points. There were 20 deliveries issued for January soybean meal.
Reuters reported that China bought 10 cargoes of US soybeans this week for March to May shipments.
Export Inspections data showed soybean shipments at 980,518 MT (51.2 mbu) shipped in the week that ended on New Years Day. That was an increase of 24.3% from the week prior, but down 26.7% from same week last year. China was the top destination of 397,069 MT, with 182,553 MT to Egypt and 74,996 MT to Taiwan. Marketing year shipments have totaled 16.4 MMT (602.64 mbu), which is down 45.3% yr/yr.
Export Sales data for the week ending on December 25 showed soybean sales at 1.178 MMT, which was in the middle of analysts looking for 0.7-1.8 MMT. Another 66,391 MT was sold for 2026/27. Sales for the current marketing year were above the week prior and more than double the same week last year.
Meal sales were tallied at 110,642 MT, shy of estimates at 150,000-500,000 MT. Bean oil sales seen were in the middle of the 0-20,000 MT estimates at 6,238 MT.
CFTC data from Monday indicated spec traders cutting another 25,841 contracts from their net long position in soybean futures and options in in the week ending on 12/30. That took the net long to 84,562 contracts.
StoneX estimates the 2025/26 Brazilian soybean crop at 177.6 MMT, up from their previous number by 0.4 MMT.
Jan 26 Soybeans closed at $10.47 1/4, up 17 3/4 cents, currently up 4 1/2 cents
Nearby Cash was $9.87 1/4, up 17 1/4 cents,
Mar 26 Soybeans closed at $10.62, up 16 1/4 cents, currently up 4 3/4 cents
May 26 Soybeans closed at $10.74 1/4, up 15 3/4 cents, currently up 4 3/4 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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