Soybean Markets React to Delayed China Meeting Amid Weather Pressures
On Wednesday, soybean prices fell between 11 to 18 cents as traders adjusted their strategies. The decline followed the news that President Trump and President Xi of China postponed their meeting, coupled with adverse weather conditions in Argentina that put further pressure on the market. CmdtyView’s latest figures indicate that the national front month Cash Bean price dropped by 18 cents to $9.95 1/4. Soymeal futures saw a decrease of $5.10 per ton, while Soy Oil futures slipped 70 points.
Export Expectations and Market Dynamics
Looking ahead, analysts predict soybean bookings for the week of January 30 to range between 0.3 and 1.1 million metric tons (MMT) for the 2024/25 crop year, with potential bookings of 0 to 50,000 MT for 2025/26. Expected meal sales are estimated between 200,000 and 550,000 MT, while soybean oil may see net cancellations of 15,000 MT or reach sales of up to 30,000 MT.
Record December Shipments and Export Performance
In December, soybean export shipments reached a remarkable total of 7.962 MMT (292.57 million bushels), marking a four-year high and the fourth largest December shipment figure ever recorded. Although this represents a 19.38% decrease from November, it stands at an impressive 68.04% increase compared to last year. Additionally, soybean meal exports set a new record for December at 1.548 MMT, while soybean oil exports reached their highest volume for December in nine years at 126,907 MT.
Upcoming Brazilian Exports
Looking south, ANEC anticipates that Brazilian soybean exports in February could reach 9.77 MMT, a rise from the 9.6 MMT exported during the same month last year, assuming all projections hold true.
Current Market Prices
As of March 25, 2025, the closing prices were as follows:
– Soybeans: $10.57 (down 18 cents)
– Nearby Cash: $9.95 1/4 (down 18 cents)
– May 2025 Soybeans: $10.72 1/4 (down 15 3/4 cents)
– November 2025 Soybeans: $10.62 1/2 (down 11 cents)
– New Crop Cash: $9.98 1/4 (down 11 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 here.
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