Soybean Prices Slide Amid Brazilian Weather and Trade Concerns

Favorable Rainfall and Market Uncertainty Weigh on Futures

The soybean market declined on Wednesday due to favorable weather in Brazil, doubts about future trade, and slumping product prices. Contracts closed down between 18 and 26 cents. CmdtyView’s national front month Cash Bean price fell by 25 1/4 cents to $9.02 ¾. Soymeal futures ended with losses ranging from $3.90 to $7.70 per ton, while Soy Oil futures dropped by 79 to 107 points during the session.

Rain is expected across most of Brazil in the coming weeks, supporting their growing crop. Additionally, the Brazilian real continues to weaken, influencing market sentiment.

This morning, the USDA announced a private export sale of 120,000 metric tons of soybean meal to Colombia for shipment in the 2024/25 season.

Ahead of the USDA’s Export Sales report, analysts predict exports of U.S. soybeans for the week of December 12th will fall between 0.825 and 2 million metric tons for the 2024/25 season. For 2025/26, sales are estimated at 0 to 100,000 MT. Soymeal sales are projected to reach between 150,000 and 400,000 MT, with bean oil sales expected between 5,000 and 75,000 MT.

Jan 25 Soybeans closed at $9.51 3/4, down 25 cents.

Nearby Cash price was recorded at $9.02 3/4, down 25 1/4 cents.

Mar 25 Soybeans ended at $9.53 1/4, down 25 1/2 cents.

Jul 25 Soybeans closed at $9.71 1/2, down 26 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 are solely for informational purposes. For further details, please view the Barchart Disclosure Policy
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