Soybeans are showing Tuesday morning gains of 2 to 3 cents. Futures were lower on Monday, with contracts down 1 to 2 cents in the nearbys, and strength in some 2026 contracts. Open interest suggested a rotation on ownership, up just 379 contracts. The cmdtyView national average Cash Bean price was down 1 1/2 cent at $10.50 1/2. Soymeal futures were down 50 to 90 cents in the nearbys, with deferreds up 80 cents to $1.80. Soy Oil futures were 2 to 8 points lower, with other contracts steady to 6 points higher.
USDA reported a private export sale of 123,000 MT of soybeans to China on Monday morning. In a CNBC interview this morning, Ag Secretary Rollins indicated the US and China would be “inking a deal this week or next week” in terms of the 12 MMT soybean commitments that have been previously reported. President Trump and China’s President Xi had a phone call earlier on Monday, discussing several things including soybeans.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Export Inspections data showed the lowest soybean export total for this week since 2006 at just 799,042 MT (29.36 mbu) shipped in the week that ended on November 20. That was a drop of 33.7% from the week prior and a massive 62.3% reduction from same week last year. Bangladesh was the top destination of 152,725 MT, with 140,821 MT to Algeria and 95,398 MT to Taiwan. China has remained mute as a destination. Marketing year shipments have totaled just 10.937 MMT (401.87 mbu), a 44.5% drop yr/yr.
USDA will release Export Sales data on Tuesday AM, with traders looking for between 0.5-1.4 MMT of soybeans sold in the week of 10/9. Meal sales are seen at 150,000-400,000 MT, with bean oil sales at 5,000-30,000 MT for the delayed data.
Jan 26 Soybeans closed at $11.23 1/4, down 1 3/4 cents, currently up 2 3/4 cents
Nearby Cash was $10.50 1/4, down 1 1/2 cents,
Mar 26 Soybeans closed at $11.32, down 2 1/4 cents, currently up 2 1/4 cents
May 26 Soybeans closed at $11.42, down 1 1/4 cents, currently up 2 1/2 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.
More news from Barchart
- Cotton Is Under Serious Pressure and Corn Prices Just Hit a 4-Week Low. Grain Bulls Need to Step It Up.
- Argentina Beef Quota Just Opened — Why Your Grocery Bill Won't Budge, and Live Cattle Is Still Setting Up for a Monster Move
- Corn: Is the Tepid Rally Bearish?
- As Trump Lifts Brazil Coffee Tariffs, Coffee Prices Are Falling. 1 Trade to Make Now.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
