Soybeans experienced losses of 9 to 10 ¼ cents on Tuesday, with January futures closing at $10.23 ¼. The national average cash bean price fell to $9.66 ¼, down 10 1/4 cents, while soymeal futures dropped by $4.50 to $8.20. Soy oil futures saw a slight increase, up 80 to 96 points. A total of 26 deliveries against soybeans were recorded on Friday night.
The USDA reported a private export sale of 168,000 metric tons of soybeans to China and an additional 152,404 metric tons to Mexico. Additionally, January exports from Brazil are estimated at 3.73 million metric tons, an increase of 1.33 million metric tons from prior estimates. NOPA data for December, expected Thursday, forecasts 224.8 million bushels of soybeans crushed.
