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Soybeans prices declined by 9 to 10 cents on Wednesday, with the cmdtyView national average Cash Bean price falling by 8.75 cents to $10.45. Soymeal futures decreased by 20 cents to $1.70, and Soy Oil futures dropped by 89 to 101 points. Deliveries issued against December soybean meal totaled 3, with 128 for December bean oil.
Treasury Secretary Bessent announced that China is on track to fulfill its soybean purchase commitments, with current USDA reported purchases at over 2.25 million metric tons (MMT) out of 12 MMT expected by the end of February. Upcoming USDA Export Sales reports on Thursday forecast soybean bookings between 0.6 and 2 MMT for the week of October 30.
For January 26, soybeans closed at $11.15 3/4, down 9 cents; nearby cash was at $10.45, down 8 3/4 cents. March 26 soybeans closed at $11.25 1/2, down 9 1/2 cents, and May 26 soybeans closed at $11.34 3/4, down 10 cents.
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