Soybeans were lower on Monday, with contracts down 1 to 2 cents in the nearbys, and strength in some 2026 contracts. The cmdtyView national average Cash Bean price was down 1 1/2 cent at $10.50 1/2. Soymeal futures were down 50 to 90 cents in the nearbys, with deferreds up 80 cents to $1.80. Soy Oil futures were 2 to 8 points lower, with other contracts steady to 6 points higher. 

USDA reported a private export sale of 123,000 MT of soybeans to China this morning. In a CNBC interview this morning, Ag Secretary Rollins indicated the US and China would be “inking a deal this week or next week” in terms of the 12 MMT soybean commitments that have been previously reported. President Trump and China’s President Xi had a phone call earlier on Monday, discussing several things including soybeans.

Export Inspections data showed the lowest soybean export total for this week since 2006 at just 799,042 MT (29.36 mbu) shipped in the week that ended on November 20. That was a drop of 33.7% from the week prior and a massive 62.3% reduction from same week last year. Bangladesh was the top destination of 152,725 MT, with 140,821 MT to Algeria and 95,398 MT to Taiwan. China has remained mute as a destination. Marketing year shipments have totaled just 10.937 MMT (401.87 mbu), a 44.5% drop yr/yr.

USDA will release Export Sales data on Tuesday AM, with traders looking for between 0.5-1.4 MMT of corn sold in the week of 10/9. Meal sales are seen at 150,000-400,000 MT, with bean oil sales at 5,000-30,000 MT for the delayed data. 

AgRural estimates the Brazilian soybean crop at 81% planted as of Thursday, behind the 86% planting pace from last year.

Jan 26 Soybeans  closed at $11.23 1/4, down 1 3/4 cents,

Nearby Cash  was $10.50 1/4, down 1 1/2 cents,

Mar 26 Soybeans  closed at $11.32, down 2 1/4 cents,

May 26 Soybeans  closed at $11.42, down 1 1/4 cents,

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