Soybeans are showing fractionally mixed trade so far on Monday. The cmdtyView national average Cash Bean price is up 3/4 cent at $10.53 3/4. Soymeal futures are up 70 cents on the day, with Soy Oil futures 12 points lower.
USDA reported a private export sale of 123,000 MT of soybeans to China this 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.
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’s monthly Fats & Oils report showed a total of 198 million bushels of soybeans crushed in August. That was a record for the month and 18.19% above last year, but down 3.48% from the July total. Soybean oil stocks were tallied at 1.79 billion lbs, which was down 4.62% from the end of July but 9.71% above the year prior.
AgRural estimates the Brazilian soybean crop at 81% planted as of Thursday, behind the 86% planting pace from last year
Jan 26 Soybeans are at $11.25 3/4, up 3/4 cent,
Nearby Cash is at $10.53 3/4, up 3/4 cent,
Mar 26 Soybeans are at $11.34, down 1/4 cent,
May 26 Soybeans are at $11.43, down 1/4 cent,
