Soybeans posted weakness to start the week, with losses of 4 to 5 ½ cents across the board. CmdtyView’s national front month Cash Bean price was down 3 cents at $9.36. Soymeal futures added to the pressure down 40 cents to $4/ton on the day. Soy Oil futures were also a pressure factor, down 9 to 36 points on the session. 

The USDA reported a private export sale of 134,000 MT of soybeans to China for 2024/25.

The monthly Fats & Oils report showed 215.76 mbu of soybeans crushed for bean oil during October, which was an all-time record and above the trade’s estimate of 210.9 mbu. That was also 15.7% above the September crush and 7.15% above last year. Soybean oil stocks totaled 1.485 billion lbs, a 1.1% from last year and last month.

Export Inspections data showed 2.088 MMT (76.73 mbu) in soybean shipments in the week of November 28. That was up 78% from the week prior and down 1.4% from last week. The largest destination was China, of 952,095 MT, with 548,461 MT headed to Italy. Shipments for the marketing year have totaled 21.793 MMT (800.74 mbu), which is 16.2% above the same time last year and a 4-year high for this week’s YTD total.

AgRural estimates the Brazilian soybean crop at 91% planted as of Thursday faster than the 85% in the same week last year. 

The Monday afternoon Commitment of Traders report showed managed money adding 13,771 contracts to their net short in soybean futures and options as of 11/26. That position stood at 81,472 contracts by that Tuesday. Soy meal specs improved to a near record net short of 75,416 contracts

Jan 25 Soybeans  closed at $9.85 1/4, down 4 1/4 cents,

Nearby Cash  was $9.36, down 3 cents,

Mar 25 Soybeans  closed at $9.91, down 5 cents,

Jul 25 Soybeans  closed at $10.16 1/2, down 4 cents,