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Soybeans Falling Double Digits with Meal Losses![]() Soybeans are posting 6 to 10 ½ cent losses far on Friday’s midday. CmdtyView’s national front month Cash Bean price is down 10 1/2 cents at $9.94 ¼. Soymeal futures are down $11.30/ton so far at midday. Soy Oil futures are up 7 points. Weekly Export Sales data was a day late and showed soybeans at 1.492 MMT, near the top of the 0.6 to 1.8 MMT in 2024/25 bean sales for the week of 1/16. That was more than double the previous week’s sales and a 7-week high. China was the buyer of 888,600 MT, with 120,700 MT sold to Japan and 119,900 MT sold to Mexico. Meal sales totaled 210,240 MT in the middle of the estimated 100,000-450,000 MT and was a 4-week high. Soybean oil sales were 2,890 MT in that week, below the expected 10,000-60,000 MT. The Buenos Aires Grain Exchange trimmed their Argentina soybean estimate at 49.6 MMT, down 1 MMT from their previous number. Argentina is cutting their soybean export tax from 33% to 26% starting on January 26, with meal and bean oil down from 31% to 24.5%. Mar 25 Soybeans are at $10.55, down 10 1/2 cents, Nearby Cash is at $9.94 1/4, down 10 1/2 cents, May 25 Soybeans are at $10.67 1/2, down 10 1/4 cents, Nov 25 Soybeans are at $10.47 1/4, down 6 cents, New Crop Cash is at $9.83 3/4, down 6 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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