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
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.
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