On January 22, soybean export inspections totaled 1.324 million metric tons (MMT), down 1.54% from the previous week but up 79.45% year-over-year. China was the leading destination, receiving 897,459 MT, while Mexico and Italy imported 102,064 MT and 67,547 MT, respectively. Year-to-date shipments have reached 20.67 MMT, a 37.5% increase compared to last year.
Market prices for soybeans fell on January 22, with March Soybeans closing at $10.61 3/4, down 6 cents, and the cmdtyView national average cash bean price at $9.92 1/4, a decrease of 5 1/2 cents. Additionally, marketing year soybean sales are reported at 33.035 MMT, 22% lower than the same week last year, while Brazil’s soybean crop harvest is currently estimated at 4.9% complete, slightly ahead of last year’s pace.
