Soybean futures have decreased by 4 to 6 cents following the Christmas holiday, with January 26 Soybeans priced at $10.57 1/2, down 5 3/4 cents, and March 26 Soybeans at $10.71, down 5 1/2 cents. The cmdtyView national average cash bean price is $9.86, reflecting a rise of 5 3/4 cents. Soymeal futures remain steady, while Soy Oil futures dropped by 37 points.
As of December 11, USDA export commitments for soybeans stand at 25.778 million metric tons (MMT), a 33% decline from the previous year and just 58% of the USDA’s export projection, trailing the 79% average pace. The next Export Sales report for the week ending December 18 will be released next Wednesday due to holiday delays.
