Soybean Market Sees New Low With Trade Declines

Midday losses reported as stocks fluctuate and production estimates vary

Soybeans faced lower trading on Friday, showing midday losses ranging from 8 to 12 cents. According to CmdtyView, the national front month Cash Bean price dropped 11 3/4 cents, now sitting at $9.87. Meanwhile, soymeal futures decreased by $5.80 per ton, although soy oil futures climbed by 74 points. In related news, President Trump has announced that he will unveil reciprocal tariffs on numerous countries next week.

The USDA’s Export Sales report revealed a total of 387,718 metric tons of soybean sales for the week ending January 30. This brings the total export sales commitments to 43.071 million metric tons, which accounts for 87% of USDA’s export forecast, surpassing the average of 85%.

In Canada, Stats Canada reported soybean stocks at 4.151 million metric tons as of December 31, reflecting a 10.9% increase from the previous year. In contrast, canola stocks were noted at 11.382 million metric tons, marking a 19.2% decrease from the end of 2023.

Turning to South America, the Buenos Aires Grains Exchange estimates that 17% of the Argentine soybean crop is rated as excellent, down from last week’s figure by 3%. Meanwhile, normal ratings dipped by 1% to 51%, and poor ratings increased by 4% to 32%. Meanwhile, Safras & Mercado has projected the Brazilian soybean crop to be 174.88 million metric tons, a rise of 1.17 million metric tons from earlier estimates.

Mar 25 Soybeans are currently priced at $10.48 3/4, which is down 11 3/4 cents.

Nearby Cash stands at $9.87, a decline of 11 3/4 cents.

May 25 Soybeans are valued at $10.65, down 10 3/4 cents.

Nov 25 Soybeans are trading at $10.57 1/4, a drop of 8 3/4 cents.

New Crop Cash is set at $9.93 1/4, down 8 1/2 cents.

At the time of publication, Austin Schroeder held no positions in any of the securities mentioned in this article. All information and data provided are for informational purposes only. For further information, please view the Barchart Disclosure Policy here.

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