The soybean market posted Monday losses of ¼ to 3 3/ cents across the nearbys, with a few deferreds stead to fractionally higher. CmdtyView’s national front month Cash Bean price was back down 3 3/4 cents at $9.41 1/2. Soymeal futures were up $1.30 to $2.30/ton at the close. Soy Oil futures were down 5 to 18 points on the session.
Export Inspections data showed 1.622 MMT (59.6 mbu) of soybeans shipped in the week of 12/5. That was up 62.3% from the same week last year but down 23.1% from the week prior. Of that total, more than half (847,025 MT) was to China, with 125,277 MT to Turkey and 142,036 MT to Italy. Marketing year to date shipments have totaled 23.438 MMT (861.2 mbu) in the first quarter (plus a few days), which is 18.6% above the same time last year.
Expectations ahead of the monthly USDA report are for very few changes to be made to the US balance sheet on Tuesday, with the average estimate according to a Reuters survey at 469 mbu, down just 1 mbu from the November total. For the world numbers, carryout is seen up 0.71 MMT at 132.45 MMT.
AgRural estimated the Brazilian soybean crop is 95% planted as of Thursday above the 91% from the same time last year.
Jan 25 Soybeans closed at $9.90, down 3 3/4 cents,
Nearby Cash was $9.41 1/2, down 3 3/4 cents,
Mar 25 Soybeans closed at $9.95 1/2, down 3 3/4 cents,
Jul 25 Soybeans closed at $10.16 3/4, down 3 1/4 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- Are Soybeans As Bearish As Advertised?
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