Soybean futures experienced losses of 4 to 5 cents on Monday, with the cmdtyView national average cash price at $9.93 1/4, an increase of 4 3/4 cents. Soymeal futures fell by $3.90 to $4.70, while soy oil futures rose by 7 to 8 points.
Export inspections for the week ending January 22 reported soybean shipments at 1.324 million metric tons (MMT), down 1.54% from the previous week but up 79.45% from last year. China was the top destination, importing 897,459 MT, followed by Mexico with 102,064 MT and Italy with 67,547 MT. Year-to-date shipments totaled 20.67 MMT, a 37.5% increase compared to the previous year.
As of Thursday, Brazil’s soybean crop harvest was at 4.9%, increasing from 2.9% last year, with the estimated crop now at 181 MMT, a 0.6 MMT increase from previous estimates.
