On Wednesday, soybeans are experiencing gains of 5 to 8 cents after Tuesday’s losses of 9 to 10 ¼ cents. The January futures contract expires today, with open interest increasing by 8,255 contracts on Tuesday. The cmdtyView national average cash bean price decreased by 10 1/4 cents to $9.66 1/4 per bushel. In related markets, soymeal futures fell $4.50 to $8.20, while soy oil futures rose by 80 to 96 points.
The USDA reported a private export sale of 168,000 metric tons of soybeans to China and another 152,404 metric tons sold to Mexico on Tuesday. Additionally, January exports from Brazil are estimated at 3.73 million metric tons, reflecting a 1.33 million metric ton increase from previous estimates. In December, China’s soybean imports totaled 8.04 million metric tons, up 1.3% from the same month last year.
