Soybeans are trading with contracts down fractionally to 2 cents. They were feeling pressure from the products on Tuesday, as contracts were down 8 ¼ to 13 ¾ cents. CmdtyView’s national front month Cash Bean price was down 11 cents at $9.57 3/4. Soymeal futures were down $1.20 to $2.20/ton. Soy Oil futures were in freefall mode, with losses of 151 to 191 points. Some were attributing the selloff in bean oil to President-elect Trump’s pick of Lee Zeldin as head of the EPA.

Tuesday afternoon’s Crop Progress report indicated the US soybean crop at 96% complete by Sunday, above the 91% average pace for that date. This was the final national update on beans for the growing season.

Export Inspections data showed 2.278 MMT (83.7 mbu) of soybeans shipped in the week of 11/7. That was down 1.3% from last week, but 13.3% above the same week last year. Of that total, 1.588 MMT was headed to China, with 174,913 MT on its way to Egypt and 158,886 MT to Vietnam. Marketing year shipments have totaled 15.228 MMT (559.5 mbu), which is up 5.9% from the same time period last year.

Brazilian exports in November are expected to total 2.81 MMT according to ANEC estimates, which is a 0.36 MMT increase from the prior week’s estimate. 

Nov 24 Soybeans  closed at $10.03 1/2, down 8 1/4 cents, currently down 1/2 cents

Nearby Cash  was $9.57 3/4, down 11 cents,

Jan 25 Soybeans  closed at $10.10 1/2, down 11 3/4 cents, currently down 1 1/4 cents

May 25 Soybeans  closed at $10.35 1/4, down 13 1/2 cents, currently down 1 1/2 cents