Soybeans are showing some strength so far on Tuesday, with gains of 4 to 6 cents. Traders were back to it on Monday, after the holiday shortened week, as contracts closed 7 to 10 cents higher. Open interest was down 3,169 contracts, with Jan dropping 7,286 contracts. The cmdtyView national average Cash Bean price was 7 cents lower at $10.57 1/2. Soymeal futures were down $3.30 to $4.80, with Soy Oil futures 29 to 55 points higher. There were no deliveries issued against December soybean meal overnight, with 123 for bean oil.

USDA tallied soybean export shipments at 920,194 MT (33.81 mbu) during the week ending on November 27. That was 56.4% below the same week in 2024 and up 13.8% from the week prior. Nothing was shipped to China. Italy was the top destination of 201,766 MT, with 126,925 MT headed to Egypt and 83,620 MT to Mexico. Marketing year exports for 2025/26 are now 11.87 MMT (436.27 mbu) since September 1, which is now 45.6% below the same period last year.

USDA’s Export Sales data for the week ending on October 23 was out on Monday as USDA plays catch up, with 1.45 MMT of soybean sales during that week. That was 30.8% above the previous week, yet was still 37.1% below last year. There was still no beans sold to China to that point. 

Soybean meal sales came in at 640,021 MT for the week of 10/23, exceeding trade ideas of 50,000-500,000 MT. Bean oil sales were seen at 29,820, also exceeding the 5,000 to 25,000 MT estimates.  

Jan 26 Soybeans  closed at $11.28, down 9 3/4 cents, currently up 5 ¼ cents

Nearby Cash  was $10.57 1/2, down 7 cents,

Mar 26 Soybeans  closed at $11.38, down 8 cents, currently up 4 cents

May 26 Soybeans  closed at $11.47 1/2, down 7 3/4 cents, currently up 4 cents

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