Soybeans Falling to Begin Tuesday Trade

Soybeans are reverting back lower on Tuesday morning, with contracts down 7 to 10 cents. The soybean market backed off the early session highs, but still closed the Monday session with contracts anywhere from 3 ¼ to 11 ½ cents higher. CmdtyView’s national front month Cash Bean price was up 6 1/4 cents at $9.42. Soymeal futures were down 80 cents to $1.50/ton on the day. Soy Oil futures were up 36 to 49 points on the session. There were no deliveries against Jan soybean overnight, with 129 issued against January meal and 16 for Jan bean oil.

Precipitation is expected to make its way back to Southern Brazil in the 8-14 day period, with Argentina seeing more spotty showers.

A delayed weekly Commitment of Traders report indicated managed money slashing 25,436 contracts from their net short in the last week of the year. Most of that was via short covering, as the net short stood at 42,447 contracts as of December 31. The spec crowd in soybean meal were also covering shorts, with the previous record net short down 31,429 contracts to 64,942 contracts. 

Export Inspections data indicated a total of 1.285 MMT (47.21 mbu) of soybeans exported in the week that concluded on January 2. That was a decline of 21.8% from last week but up 23.5% from the same week in 2024. China was the lead destination of 559,696 MT, with 136,461 MT to the Netherlands. Marketing year shipments totaled 29.956 MMT (1.101 bbu) through that date, which is an increase of 23.2% over the same period last year.

Soybean exports out of Brazil during December were reported at 2.004 MMT, which was down 47.65% from the same month last year.

Jan 25 Soybeans  closed at $9.92 1/2, up 11 1/2 cents, currently down 9 1/4 cents

Nearby Cash  was $9.42, up 6 1/4 cents,

Mar 25 Soybeans  closed at $9.97 3/4, up 6 cents, currently down 9 1/2 cents

Jul 25 Soybeans  closed at $10.20 1/2, up 4 cents, currently down 7 3/4 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.