Soybean Pit Nov '20 (SX20)

Soybeans posted losses of 7 ¾ to 18 ¾ cents across the board on Friday, as futures closed near the lows of the session. November lost 35 ½ cents on the week (3.53%). CmdtyView’s national front month Cash Bean price was down 17 ¾ cents at $9.12 1/4. Soymeal futures were down a dime to $2.50/ton on the day. Soy Oil contracts fell 54 to 77 points to close out the session. 

USDA reported private export sales of 292,800 MT of soybeans during the reporting period to unknown destinations this morning, with 21,000 MT of bean oil to Mexico.

Export Sales data showed 2024/25 soybean sales of 1.703 MMT in the week that ended on October 10 in the middle of the expected between 1 and 2.2 MMT. That was a 4 week high and 24.1% above the same week last year. Chin was the primary buyer of 999,700 MT, with 144,600 MT sold to Egypt.

Soybean meal sales were tallied at 251,401 MT, in the middle of the 150,000 to 350,000 MT estimates. Soybean oil sales were just 403 MT, on the low side t... Read more