The soybean market is kicking off 2025 with contracts extending strength, as futures are up 3 to 4 cents so far. There were 380 deliveries issued against January soybean futures on New Years Eve. CmdtyView’s national front month Cash Bean price is up 2 1/4 cents at $9.57. Soymeal futures are up $4.50/ton. Soy Oil futures were up 16 points.  There were another 648 deliveries issued against January bean meal on New Years Eve, with 192 issued for bean oil.

Rains are expected to make their way into eastern and central parts of Argentina in the 8-14 day period, though the northeastern part of the country as well as Southern Brazil remains dry. StoneX raised their 2024/25 Brazilian soybean crop by 5.2 MMT from their previous estimate to 171.4 MMT.

The monthly Fats & Oils report will be released this afternoon, with analysts expecting to see 207.2 mbu of soybean crushed during November. Soy oil stocks are estimated at 1.478 billion lbs at the end of November. 

The weekly Export Sales report has been pushed back to Friday morning, with traders surveyed by Reuters estimating a total of 0.5-1.2 MMT in 2024/25 soybean bookings for the week that ended on December 26. Another 2025/26 sales are estimated at 0-100,000 MT. Meal sales are pegged in a range of 150,000 to 400,000 MT, with bean oil bookings estimated at 5,000 to 40,000 MT.

Jan 25 Soybeans  are at $10.02, up 3 3/4 cents,

Nearby Cash  is at $9.57, up 2 1/4 cents,

Mar 25 Soybeans  are at $10.13 1/2, up 3 cents,

Jul 25 Soybeans  are at $10.38 3/4, up 4 cents,