Soybean Markets Experience Significant Decline Amid Disappointing Export Data

On Friday, soybean contracts suffered notable losses, closing down by 15 ½ to 21 ¼ cents. Despite this drop, March soybeans ended the week with a modest gain of 2 cents. CmdtyView reported a national front month cash bean price that decreased by 20 ¼ cents, settling at $9.36 ½. Additionally, soymeal futures faced declines ranging from $7.10 to $11.30 per ton, while soybean oil futures slipped by 20 to 34 points during the session.

Weak Export Sales Raise Concerns

The weekly Export Sales report revealed the lowest booking for the 2024/25 marketing year. Only 484,679 metric tons of beans were booked for the week ending December 26, falling short of trader expectations, which ranged from 0.5 to 1.2 million metric tons. Notably, China purchased 617,700 metric tons that week, while a switch occurred from an unknown source, which resulted in total net reductions of 667,300 metric tons.

Meal and Oil Sales Show Mixed Results

Meal sales registered at 203,814 metric tons, landing between the estimated range of 150,000 to 400,000 metric tons. Conversely, soybean oil bookings surpassed expectations, reaching 38,147 metric tons, which was on the higher end of the estimated range of 5,000 to 40,000 metric tons.

Closing Prices for Soybeans

Jan 25 Soybeans closed at $9.81, down 18 ½ cents.

Nearby Cash stands at $9.36 ½, down 20 ¼ cents.

Mar 25 Soybeans ended at $9.91 ¾, down 20 ¼ cents.

Jul 25 Soybeans finished at $10.16 ½, down 21 ¼ 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 further details, please view the Barchart Disclosure Policy here.
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