Soybean contracts are decreasing on Tuesday, with prices down by 1 to 2.5 cents. The cmdtyView national average cash bean price has fallen by 2.75 cents to $9.80 1/4. Soymeal futures are rising, gaining between $2.50 and $3.20, while soy oil futures are dropping by 30 to 35 points.
The USDA’s latest Export Sales report revealed soybean sales for the week ending December 11 reached 2.396 million metric tons (MMT), exceeding estimates of 1.8-2.9 MMT and marking a marketing year high—68.3% larger than the same week last year. China accounted for 1.38 MMT of these sales, contributing to a total of 6.2 MMT in known sales to China.
Soymeal sales were reported at 616,453 MT, surpassing the expected range of 275,000-550,000 MT, while bean oil sales stood at 8,660 MT, near the low end of the 5,000-24,000 MT estimate.
