Soybeans fell 5 ½ to 9 ½ cents across the board to close out the Monday session as NOPA data was reported shy of trade ideas. CmdtyView’s national front month Cash Bean price was down 6 1/4 cents at $9.33 ½. Soymeal futures were up 20 to 70 cents/ton on the day. Soy Oil futures were 71 to 91 points lower on the session.
Export Inspections data showed 1.676 MMT (61.6 mbu) in soybean shipments during the week that ended on December 12. That was down 3.5% from the previous week but up 17.6% from the same week last year. China was the largest destination of 1.026 MMT, with another 191,759 MT shipped to Mexico. Marketing year to date shipments are now at 25.23 MMT (927.06 mbu), which is now 19.1% above the same week in 2023.
NOPA data was updated this morning, with the reported 193.185 mbu of soybeans crushed during November coming shy of the trade estimates at 196.713 mbu. That was up 2.19% from last year and a November record, but down 3.38% from last year. Stocks were building this month, up 1.47% from a year ago at 1.08 billion lbs. That was still 10.6% below last year and short of the estimated 1.123 billion lbs.
AgRural estimates the Brazilian soybean crop at 171.5 MMT.
Jan 25 Soybeans closed at $9.82, down 6 1/4 cents,
Nearby Cash was $9.33 1/2, down 6 1/4 cents,
Mar 25 Soybeans closed at $9.86, down 9 cents,
Jul 25 Soybeans closed at $10.07 1/4, down 8 3/4 cents,
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