Soybeans rounded out the Thursday session with losses of 6 to 7 cents as weakness continues. The cmdtyView national average Cash Bean price was 5 3/4 cents lower at $9.81 1/4. Soymeal futures were 20 cent so $1.00 higher, with Soy Oil futures down 41 to 47 points.
USDA reported a private export sale of 114,000 MT of soybeans to unknown destinations this morning.
Weekly Export Sales data from this morning showed 1.106 MMT in soybean sales for the week ending on 11/27, in the middle of 0.6-2 MMT estimates. That was a drop of 52.3% from the week prior and is less than half of the same week last year.
Accumulated sale commitments, both shipped and unshipped are now 21.829 MMT (802 mbu), which is 39.3% below the same period last year. Much of that lag is to China, as commitments are down 14.14 MMT, with 13.4 MMT being China.
Meal sales totaled 436,046 MT, nearing the top end of 200,000-450,000 MT estimates. Bean oil sales were tallied at 25,516 MT, exceeding the 5,000-25,000 MT in trade expectations.
Jan 26 Soybeans closed at $10.52 1/4, down 6 cents,
Nearby Cash was $9.81 1/4, down 5 3/4 cents,
Mar 26 Soybeans closed at $10.62, down 6 3/4 cents,
May 26 Soybeans closed at $10.73 1/4, down 6 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.
More news from Barchart
