Soybean futures experienced a decline on Tuesday, March 26, closing down 4 to 5¾ cents. The cmdtyView national average Cash Bean price fell by 5½ cents to $9.82¾. Soymeal futures increased by 70 cents to $1.60 in the front months, while Soy Oil futures dipped by 4 to 10 points.
The USDA reported a private export sale of 190,000 metric tons of soybean meal to the Philippines. Meanwhile, the Export Inspections report indicated that 1.34 million metric tons of soybeans were shipped in the week ending January 15, a 16.1% decrease from the prior week but 35.1% greater than the same week last year. China received the largest share with 611,983 metric tons.
As of last Thursday, the Brazilian soybean harvest was estimated at 2% complete, with exports predicted to be 3.79 million metric tons for January, a slight increase from the previous estimate.
