Soybeans are trading with 7 to 9 cent gains on Tuesday AM trade. Futures saw weaker trade on Monday with contracts closing 4 to 5 cents lower in the nearbys. Open interest was down just 225 contracts on Monday. The cmdtyView national average Cash Bean price was 1 3/4 cents lower at $9.96 3/4. Soymeal futures were 20 to 90 cents higher, with Soy Oil futures were down 30 to 37 points at the close. Bean oil is up 138 points this morning.
USDA’s FGIS tallied soybean export shipments at 1.31 MMT (48.15 mbu) during the week ending on January 29. That was 1.9% below the week prior but 14.9% above the same week last year. China was the top destination of 740,004 MT, with 137,596 MT headed to Mexico and 121,059 MT to Egypt. Marketing year exports for 2025/26 are 21.99 MMT (808 mbu) since September 1, which is now 35.7% below the same period last year and has closed the gap since early January by nearly 10 percentage points.
Just prior to midday, President Trump issued a Truth Social post that a call with India’s President Modi went well with the US lowering tariffs on the country from 25% to 18% and India agreeing to buy over $500 billion of US energy, technology, agricultural, coal and other products. India has historically been a top 5 buyer of US bean oil and was the top buyer in 2025.
USDA’s monthly Fats & Oils report from Monday afternoon showed a total of 229.84 million bushels of soybeans crushed in December, shy of trade estimates. That was still 4.24% above November and 5.59% larger yr/yr. Marketing year crush since September has totaled 891.58 million bushels, which is up 7.43% from the same period last year.
StoneX estimates the Brazilian soybean crop at 181.6 MMT, a 4 MMT increase from their previous projection. The Celeres forecast was up 4.1 MMT to 181.3 MMT.
Mar 26 Soybeans closed at $10.60 1/4, down 4 cents, currently up 8 1/4 cents
Nearby Cash was $9.96 3/4, down 1 3/4 cents,
May 26 Soybeans closed at $10.72 1/2, down 4 1/2 cents, currently up 8 cents
Jul 26 Soybeans closed at $10.85 3/4, down 4 3/4 cents, currently up 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.
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