Soybeans closed Monday with losses of 4 to 5 cents, as the market continues to sell the fact as the Chinese purchases come through. The cmdtyView national average Cash Bean price was 4 ½ cents lower at $10.01. Soymeal futures were up 70 cents to $1.10, with Soy Oil futures down 30 to 70 cents. A Reuters report indicated EPA finalization of the RVOs set for 2026 is not expected to take place until next year.
USDA reported a private export sale of 136,000 MT to China this morning.
Export Inspections data showed soybean shipments at 795,661 MT (29.24 mbu) shipped in the week that ended on December 11. That was a drop of 22.4% from the week prior and down 59.6% from same week last year. China was the top destination of 202,043 MT, with 136,515 MT to Germany and 80,425 MT to Vietnam. Marketing year shipments have totaled 13.702 MMT (503.47 mbu), a 46.3% decline yr/yr.
We got another backlogged update of the Export Sales report this morning, showing 2.232 MMT in sales, on the higher end of 0.8-3 MMT estimates in the week of November 20. There was 2.14 MMT sold to China, which was mostly known vis the daily sale announcements. Known sales to China, including this morning’s announcement, are now 4.2 MMT. Meal sales were tallied at 150,951 MT, on the bottom half of the estimated 100,000-450,000 MT. Soybean oil sales were back up from the week prior to 7,540 MT on the lower end of 5,000-25,000 MT estimates.
NOPA data was released this morning, with members crushing 216.04 million bushels during November. That was a 5.1% drop from October’s all time record, but still 11.83% larger than last year and a record for the month. Soybean oil stocks were up 15.95% from the end of October at 1.513 billion lbs, which was also 39.58% larger yr/yr.
CFTC released a Commitment of Traders report for the week ending on November 25 this afternoon, showing managed money trimming 15,336 contracts from their net long in soybean futures and options. That net long stood at 214,289 contracts at that date.
AgRural estimated the Brazilian soybean crop at 97% planted as of Thursday.
Jan 26 Soybeans closed at $10.71 3/4, down 5 cents,
Nearby Cash was $10.01 1/1, down 4 1/2 cents,
Mar 26 Soybeans closed at $10.81 1/4, down 5 1/2 cents,
May 26 Soybeans closed at $10.93, down 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.
