Soybean Market Recovers Slightly After Losses
Market Movements and Export Sales Highlighted
Soybeans recovered some of the earlier losses from Wednesday, closing with gains ranging from 4 ¾ to 13 ½ cents across all contracts, with the nearest contracts leading the way. CmdtyView’s national front month Cash Bean price increased by 11 cents to settle at $9.12. Soymeal futures rose by $3.10 to $4.90 per ton, while Soy Oil futures ended the session 17 to 49 points higher.
This morning, the USDA reported a significant private export sale of 227,200 metric tons (MT) to undisclosed destinations—comprised of 152,200 MT for the 2024/25 marketing year and 75,000 MT for 2025/26.
The USDA’s Export Sales report indicated soybean bookings for 2024/25 at 1.424 million metric tons (MMT). This figure fell within analysts’ predictions, which ranged from 0.825 to 2 MMT for the week ending on December 12. Although this represented a 21.3% increase from the previous week, it marked the third lowest total for this marketing year. China was the largest buyer, purchasing 648,200 MT, while 374,500 MT were sold to unknown destinations.
In the same week, meal sales totaled 261,586 MT, aligning with expectations of 150,000-400,000 MT and showing a notable 48.4% increase from the prior week. Conversely, bean oil sales were minimal, at just 6,307 MT, hitting the lower end of the 5,000 to 75,000 MT forecast and marking a nine-week low.
Jan 25 Soybeans closed at $9.63, up 11 1/4 cents.
Nearby Cash settled at $9.12, gaining 11 cents.
Mar 25 Soybeans finished at $9.66 1/2, up 13 1/4 cents.
Jul 25 Soybeans closed at $9.85, increasing by 13 1/2 cents.
On the date of publication, Austin Schroeder did not hold (directly or indirectly) any positions in the securities mentioned in this article. All information and data herein are for informational purposes only. For further details, please review the Barchart Disclosure Policy here.
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Nasdaq, Inc.
