Soybeans are back to lower trade on Friday, with midday losses of 8 to 12 cents. CmdtyView’s national front month Cash Bean price is down 11 3/4 cents at $9.87. Soymeal futures were down $5.80/ton, with Soy Oil futures 74 points higher. President Trump has released a statement saying he will announce reciprocal tariffs on many countries next week.
USDA’s Export Sales report indicated a total of 387,718 MT of soybean sales in the week ending on 1/30, taking the total export sales commitments to 43.071 MMT. That is 87% of USDA’s export forecast, ahead of the 85% average.
Stats Canada showed soybean stocks at 4.151 MMT as of December 31, up 10.9% from last year. Canola stocks were tallied at 11.382 MMT, a 19.2% decline from the end of 2023.
The Buenos Aires Grains Exchange estimates the Argentina soybean crop at 17% excellent, down 3% from last week. Normal ratings were down 1% to 51%, with the poor ratings up 4% to 32%. Safras & Mercado estimates the Brazilian soybean crop at 174.88 MMT, up 1.17 MMT from the previous number.
Mar 25 Soybeans are at $10.48 3/4, down 11 3/4 cents,
Nearby Cash is at $9.87, down 11 3/4 cents,
May 25 Soybeans are at $10.65, down 10 3/4 cents,
Nov 25 Soybeans are at $10.57 1/4, down 8 3/4 cents,
New Crop Cash is at $9.93 1/4, down 8 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 Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.