Soybeans are falling 12 to 13 cents in the nearbys on Friday. The cmdtyView national average Cash Bean price is 11 3/4 cents lower at $10.10 3/4. Soymeal futures are $1.70 higher, with Soy Oil futures 85 points lower. There were 26 deliveries for December soybean meal overnight, with 34 for Bean oil. December expires today.
A private export sale of 132,000 MT was reported to China by USDA this morning. Known China purchases (via daily flash sales and weekly data) have accumulated 3.5 MMT. Another sale was reported for soybean meal totaling 104,328 MT to Mexico, with 93,895 MT for the current marketing year and 10,433 MT for the next MY.
We will get another backlogged update to the Export Sales report on Monday. Traders are looking for 0.8-3 MMT in soybean sales for the week of November 20. Meal sales are estimated at 100,000-450,000 MT, with 5,000-25,000 MT for bean oil.
Sinograin, a Chinese state stockpiler, setup another auction for 513,000 MT of imported soybeans set for next Tuesday.
Jan 26 Soybeans are at $10.80 3/4, down 12 3/4 cents,
Nearby Cash is at $10.10 3/4, down 12 3/4 cents,
Mar 26 Soybeans are at $10.90 1/4, down 12 1/2 cents,
May 26 Soybeans are at $11.00, down 12 1/4 cents,
