On Tuesday, the cmdtyView national average cash price for soybeans fell by 3/4 cent to $9.87 1/2. Soymeal futures increased by $1.50 to $2.60, while Soy Oil futures rose by 20 points. The USDA reported a private export sale of 190,000 metric tons of soybean meal to the Philippines.
For the week ending January 15, a total of 1.34 million metric tons of soybeans were exported, 16.1% lower than the previous week, but 35.1% higher than the same week last year. China was the largest destination, receiving 611,983 metric tons. Year-to-date, soybean shipments total 19.335 million metric tons, representing a 40.2% decline compared to the same period last year.
The Brazilian soybean harvest is currently estimated at 2% completion, with exports expected at 3.79 million metric tons for January, according to ANEC.
