Soybeans experienced midday losses on Monday, trading down 5 to 7 cents. The cmdtyView national average Cash Bean price also saw a decrease of 6 cents to $10.00 1/2. However, Soymeal futures were up 90 cents to $1.20, while Soy Oil futures had gains of 68 points at midday.
In recent news, the USDA reported a private export sale of 136,000 MT to China. Additionally, Export Inspections data revealed that soybean shipments totaled 795,661 MT (29.24 mbu) for the week ending on December 11. This marked a 22.4% decrease from the previous week and a 59.6% drop from the same period last year. China was the top destination with 202,043 MT, followed by Germany with 136,515 MT and Vietnam with 80,425 MT. Overall, marketing year shipments have declined by 46.3% year over year, totaling 13.702 MMT (503.47 mbu).
Furthermore, the Export Sales report for the week of November 20 showed 2.232 MMT in sales, with 2.14 MMT being sold to China. This brings the total known sales to China to 4.2 MMT. Meal sales were reported at 150,951 MT, falling within the estimated range of 100,000-450,000 MT, while soybean oil sales reached 7,540 MT, slightly below the estimated range of 5,000-25,000 MT.
NOPA data released indicated that members crushed 216.04 million bushels in November, a 5.1% decrease from the previous month’s record but still 11.83% higher than last year. Soybean oil stocks were up by 15.95% from the end of October, reaching 1.513 billion lbs, a 39.58% increase year over year.
In Brazil, AgRural estimated that the soybean crop was 97% planted as of Thursday. As for soybean prices, Jan 26 Soybeans were at $10.70 3/4, down 6 cents, Nearby Cash stood at $10.00 1/2, down 6 cents, Mar 26 Soybeans were at $10.80, down 6 3/4 cents, and May 26 Soybeans were at $10.91 1/2, down 5 1/2 cents.
Please note that the above information is for informational purposes only and does not constitute investment advice. For more details on soybean trading updates, you can visit the original article on Barchart.com.
