**Soybeans Market Update – January 22, 2023**
On Friday, soybean futures experienced losses of 10 to 11 points. The cmdtyView national average cash bean price decreased by 2.75 cents, settling at $10.05. Soymeal futures dropped between $3 and $3.30, while Soy Oil futures fell by 60 points.
As of January 22, U.S. soybean export commitments totaled 33.85 million metric tons (MMT), marking a 20% decline compared to last year. This represents 79% of the USDA’s export estimate, which lags behind the 87% average sales pace. The USDA is set to release crush data on Monday, with market expectations for December soybean crush at 230.4 million bushels (mbu).
