Soybeans collapsed on Friday, as contracts are closed with losses of 15 ½ to 21 ¼ cents at the final bell. March soybeans closed the week with a 2 cent gain. CmdtyView’s national front month Cash Bean price was down 20 1/4 cents at $9.36 1/2. Soymeal futures were down $7.10 to $11.30/ton across the board. Soy Oil futures were 20 to 34 points on the session.
The weekly Export Sales report showed a MY low of 484,679 MT of 2024/25 beans booked in the week of 12/26, below traders estimates of 0.5-1.2 MMT. That was a MY low of sales during the holiday week. China was the buyer of 617,700 MT in that week, as 316,000 MT was switch from unknown (which had net reductions of 667,300 MT in total).
Meal sales were tallied at 203,814 MT in the range of 150,000 to 400,000 MT estimates. Bean oil bookings were on the high end of 5,000 to 40,000 MT estimates at 38,147 MT.
Jan 25 Soybeans closed at $9.81, down 18 1/2 cents,
Nearby Cash was $9.36 1/2, down 20 1/4 cents,
Mar 25 Soybeans closed at $9.91 3/4, down 20 1/4 cents,
Jul 25 Soybeans closed at $10.16 1/2, down 21 1/4 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 is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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