Soybeans are trading with losses between 5 and 7 cents on Monday at noon. cmdtyView’s national average Cash Bean price was 6 cents lower at $10.00 1/2. Soybean meal futures rose 90 cents to $1.20, and soybean oil futures were trading with gains of 68 points at midday.
The USDA this morning reported a private export sale of 136,000 MT to China.
Export Inspections data showed soybean shipments of 795,661 MT (29.24 mbu) shipped in the week ending December 11. That was a 22.4% drop from the previous week and down 59.6% from the same week last year. China was the main destination of 202,043 MT, with 136,515 MT to Germany and 80,425 MT to Vietnam. Shipments of the campaign totaled 13,702 million tons (503.47 mbu), a year-on-year decrease of 46.3%.
We received another delayed update to the export sales report this morning, showing 2.232 million tonnes in sales, at the upper end of estimates of 0.8 to 3 million tonnes for the week of 20 November. 2.14 million tons were sold to China, which was mainly known through daily sales announcements. Known sales to China, including this morning’s announcement, now amount to 4.2 MMT.
Flour sales were recorded at 150,951 MT, in the lower half of the estimated 100,000-450,000 MT. Soybean oil sales rose again from the previous week to 7,540 MT at the lower end of estimates of 5,000-25,000 MT.
NOPA data was released this morning, and its members raised 216.04 million bushels during November. This is a 5.1% drop from October’s all-time record, but still 11.83% higher than last year and a record for the month. Soybean oil stocks increased 15.95% from the end of October to 1,513 million pounds, which was also up 39.58% year over year.
AgRural estimated that the Brazilian soybean crop was 97% planted as of Thursday.
January 26 Soybeans are at $10.70 3/4, down 6 cents.
Nearby cash is $10.00 1/2, down 6 cents.
March 26 Soybeans are at $10.80, down 6 3/4 cents.
On May 26, soybeans are at $10.91 and a half, down 5.5 cents.
As of the date of publication, Austin Schroeder had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com