Soybeans are trading 2 to 3 ¼ cents lower so far on Friday, with midday action well off the early double digit losses. CmdtyView’s national front month Cash Bean price is dow 3 cents at $9.48 1/2. Soymeal futures are adding the pressure with losses of $4/ton. Soy Oil futures are up 13 ticks so far on the day.
The USDA reported a private export sale of 121,000 MT of soybeans to China this morning via the daily reporting system.
USDA’s weekly Export Sales report showed a total of 15.993 MMT of US soybeans have been sold for export for 2024/25, whether shipped or unshipped, down 6% from last year. That is 32% of the USDA export forecast, lagging the 42% average selling pace.
Chinese August import of soybeans totaled 202,383 MT from the US, nearly double the same month in 2023. Imports from Brazil totaled 10.24 MMT, up 12% from a year ago.
Nov 24 Soybeans are at $10.10 1/4, down 3 cents,
Nearby Cash is at $9.48 1/2, down 3 cents,
Jan 25 Soybeans are at $10.28, down 3 1/4 cents,
May 25 Soybeans are at $10.56 3/4, down 2 1/2 cents,
New Crop Cash is at $9.48 1/2, down 3 cents,
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