The soybean market is down 7 to 9 cents so far on Friday morning trade. Soybeans posted Thursday losses of 10 to 17 cents on the session, as traders were taking some money off the table ahead of the end of the month. CmdtyView’s national front month Cash Bean price was up 17 1/2 cents at $9.80 1/4. Soymeal futures were down $5.20/ton, with Soy Oil futures steady to down 2 points in the nearbys on the session.
Late on Thursday afternoon, President Trump stated he would go ahead with the 25% tariff on Mexico and Canada on Saturday. No retaliatory measures from either country have officially been announced. Nothing was stated on China and the February 1 date, though the President stated they would also end up paying a tariff, while also issuing a threat of 100% tariffs to all BRICS countries should they try to shift towards their own currency to rival the US dollar.
On Monday, USDA will release their monthly Fats & Oils report, with analysts estimating 217.6 mbu of soybeans crushed in December. Soy oil stocks are seen at 1.734 billion lbs.
Export Sales data from the USDA showed just 438,002 MT of 2024/25 soybean bookings reported in the week ending on January 23, below the estimated 0.45 to 1.7 MMT. That was a 3-week low and down 70.6% from last week, but still well above the same week last year. China was the buyer of just 145,300 MT, with Spain buying 66,300 MT. Another light 4,520 MT was reported for 2025/26, all for Japan.
Meal sales totaled 410,300 MT in that week, which was on the high end of the 100,000 to 450,000 MT range of estimates and the second largest for the marketing year. The Philippines was the buyer of 140,500 MT, with 106,900 MT sold to unknown destinations. Soy oil sales were tallied at 12,452 MT, in the middle of the 4,000 to 20,000 MT estimates. Shipments of soy oil were 103,600 MT, a marketing year high.
Mar 25 Soybeans closed at $10.44, down 16 1/2 cents, currently down 9 cents
Nearby Cash was $9.80 1/4, down 17 1/2 cents,
May 25 Soybeans closed at $10.59 3/4, down 15 1/2 cents, currently down 8 1/2 cents
Nov 25 Soybeans closed at $10.53 1/2, down 10 cents, currently down 7 3/4 cents
New Crop Cash was $9.88 0/1, down 10 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
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