Soybean futures are trading near unchanged levels on Friday morning, with contracts slightly mixed after gaining 8 to 10 cents on Thursday. The cmdtyView national average cash bean price increased by 10.75 cents to $9.82. Open interest rose by 3,056 contracts. Soymeal futures fell between $2.20 to $5, while soy oil futures saw a rally, gaining 122 to 199 points.
Export sales data from the USDA for the week ending January 8 reported the third-largest sales of the marketing year at 2.06 million metric tons (MMT), surpassing estimates and exceeding last year’s figures by four times. China was the primary buyer with 1.224 MMT, followed by Egypt at 273,200 metric tons and Mexico at 191,000 metric tons. In related data, NOPA reported 224.991 million bushels of soybeans crushed in December, representing an 8.9% increase year-over-year.
The markets will observe a holiday break on Monday for Martin Luther King Jr. Day, reopening Monday evening.
