Soybean Market Starts 2025 Strong: Futures Reflect a Positive Trend
The soybean market began 2025 on a positive note, with most contracts experiencing gains. Futures rose steadily by up to 3 ½ cents. CmdtyView reported that the national front-month Cash Bean price increased by 1 1/4 cents, reaching $9.56. Meanwhile, soymeal futures saw gains ranging from $3 to $5.20 per ton. In contrast, soy oil futures experienced a decline of 6 to 23 points during the session.
Rain in Argentina and Increased Production Estimates
Rains are predicted for eastern and central regions of Argentina over the next 8-14 days. However, the northeastern section of the country and Southern Brazil will remain dry. StoneX adjusted their forecast for the 2024/25 Brazilian soybean crop, increasing it by 5.2 MMT to a total of 171.4 MMT.
Crushing Numbers Exceed Expectations
The monthly Fats & Oils report revealed that 210 million bushels (mbu) of soybeans were crushed in November, surpassing estimates of 207.2 mbu. This figure marks a decline of 2.66% from the record high established in October, but it is a 4.97% increase compared to November 2023, setting a new monthly record. Soy oil stocks stood at 1.612 billion pounds at the end of November, which also exceeded expectations.
Upcoming Export Sales Report
The weekly Export Sales report has been rescheduled to Friday morning. Traders surveyed by Reuters anticipate that soybean bookings for the 2024/25 period will be between 0.5 and 1.2 MMT for the week ending December 26. There are also estimates for 2025/26 sales, predicted to range from 0 to 100,000 MT. Meal sales are estimated between 150,000 and 400,000 MT, while bean oil bookings are anticipated to be between 5,000 and 40,000 MT.
Latest Soybean Prices
Jan 25 Soybeans closed at $9.99 1/2, an increase of 1 1/4 cents.
Nearby Cash was priced at $9.56, also up by 1 1/4 cents.
Mar 25 Soybeans finished at $10.12, rising 1 1/2 cents.
Jul 25 Soybeans closed at $10.37 3/4, reflecting a gain of 3 cents.
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
