Soybeans are down 2 to 4 ¼ cents at midday. The cmdtyView national average Cash Bean price is 4 1/4 cents lower at $10.04 1/2. Soymeal futures were $0.90 to $1.50 lower, with Soy Oil futures 40 to 45 points lower.
USDA released Export Sales data for the week ending on 1/23 this morning, with a total of 818,972 MT of soybean sold that week, within estimates of 0.4 to 1.8 MMT in old crop soybean sales. That was just a third of the previous week’s sales, but still more than double the same week last year.
Soybean meal sales were tallied at 464,297 MT, on the higher side of estimates between 225,000 and 500,000 MT. Soybean oil sales were at 22,052 MT, in the higher end of trade ideas of a range of 0 to 26,000 MT.
Census trade data showed November soybean exports at just 4.29 MMT (157.73 mbu), which was the lowest total for the month since 2007. Meal shipments were back down from last year’s record at 1.34 MMT for November, with bean oil at 45,810 MT.
Mar 26 Soybeans are at $10.70 3/4, down 4 1/4 cents,
Nearby Cash is at $10.04 1/2, down 4 1/4 cents,
May 26 Soybeans are at $10.84 1/4, down 3 1/2 cents,
Jul 26 Soybeans are at $10.98 1/4, down 2 3/4 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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