Soybeans are trading with 4 to 6 cent losses as futures trade through midday. CmdtyView’s national front month Cash Bean price is down 5 1/4 cents at $9.32 3/4. Soymeal futures are putting the short covering on pause for Friday, with contracts back down $2.70/ton. Soy Oil futures are trading with slight gains at midday.
The weekly Export Sales report from this morning tallied 978,351 MT of 2024/25 soybeans sold in the week of 12/19. That was below the analysts’ estimates of 1 to 1.8 MMT and a MY low. China was the largest buyer at 410,600 MT, with Spain in for 259,500 MT. Another round of 125,000 MT was sold for 2025/26 on the high end of the 70,000 to 125,000 MT.
Soybean meal sales were tallied at a combined 485,635 MT, with 389,634 MT for 2024/25, exceeding the trade range of 200,000 to 450,000 MT estimates. Columbia was in for 154,100 MT. Soybean oil was reported at 40,400 MT, well above the trade’s 5,000 to 15,000 MT estimates.
The Buenos Aires Grain Exchange estimates the Argentina soybean acreage at 18.4 million hectares (45.47 million acres), which is down 0.2 million ha (~500,000 acres) from their prior number.
Jan 25 Soybeans are at $9.82 1/2, down 5 1/2 cents,
Nearby Cash is at $9.32 3/4, down 5 1/4 cents,
Mar 25 Soybeans are at $9.91 3/4, down 5 1/2 cents,
Jul 25 Soybeans are at $10.14, down 4 1/2 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. More news from BarchartThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
