On January 13, a private export sale of 198,000 metric tons of soybeans was reported by the USDA, directed to unknown destinations. As of January 1, 2024, total US soybean export sale commitments stand at 28.576 million metric tons, representing 64% of the USDA’s export projection, but shipments are down 45% year-over-year at 16.347 million metric tons.
Soybean trading on January 26 shows nearby cash prices at $9.91, up 3 cents, while January soybeans reached $10.52 ¾, gaining 5 ¾ cents. Additionally, Sinograin has announced an auction of 1.1 million metric tons of imported soybeans for January 13 from 2022-2025.
Upcoming on Monday, the WASDE report is expected to forecast the 2025/26 soybean ending stocks at 295 million bushels, an increase of 5 million bushels month-over-month, as per a Bloomberg analyst survey.
