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Soybeans experienced losses of 8 to 11.5 cents on Monday, with the cmdtyView national average Cash Bean price dropping to $10.23. Soymeal futures fell by 20 cents to $1.30, while Soy Oil futures lost between 34 to 51 points.
The USDA reported a private export sale of 132,000 MT of soybeans to China. Additionally, this morning’s Export Inspections report showed shipments totaling 1.018 MMT (37.41 mbu) in the week ending 12/4, representing a 41.4% decrease compared to the same week last year but a 10.6% increase from the previous week.
For the marketing year, soybean shipments are at 12.9 MMT (473.98 mbu), 45.2% lower than the same period last year. The USDA’s backlog export sales report indicated soybean bookings of 510,554 MT for the week ending 11/6, marking a marketing year low.
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