Soybean are joining the grains with the weakness on Friday, with midday losses of 6 to 12 cents. The cmdtyView national front month Cash Bean price is down 8 cents at $9.58. Soymeal futures are down 40 cents/ton on the day, with Soy Oil futures 95 points in the red. There were no deliveries issued against March soybeans overnight. There were 641 deliveries issued for March bean meal, with 792 bean oil deliveries. President Trump plants to implement an additional 10% tariff on China starting next week.
USDA reported a private export sale of 20,000 MT of soybean oil sold this morning for 2024/25 shipment.
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The weekly Export Sales report showed marketing year export commitments for soybeans now at 44.147 MMT, which is 89% of the USDA forecast total for the marketing year and on par with the average sales pace. Marketing year shipments are at 37.009 MMT, accounting for 75% of USDA’s export projection and on pace with normal.
Argentina’s soybean crop was estimated at 24% excellent by to the Buenos Aires Grain Exchange on Thursday, up 7% from last week. The normal category was down 6% (all shifting to excellent), with the poor ratings down 1% to 34%.
Mar 25 Soybeans are at $10.16, down 6 3/4 cents,
Nearby Cash is at $9.58, down 8 cents,
May 25 Soybeans are at $10.27, down 10 1/4 cents,
Nov 25 Soybeans are at $10.30 1/2, down 11 1/4 cents,
New Crop Cash is at $9.65 1/4, down 11 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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