Soybeans are easing back lower on Tuesday, with contracts down 1 to 2 ½ cents. The cmdtyView national average Cash Bean price is 2 3/4 cents lower at $9.80 1/4. Soymeal futures are showing gains of $2.50 to $3.20 so far on Tuesday, with Soy Oil futures slipping back 30 to 35 points lower.
USDA’s second release of Export Sales data this week showed soybean sales in the week of December 11 at 2.396 MMT, in the middle of estimates of 1.8-2.9 MMT. That was a marketing year high, the largest in over a year, 68.3% larger than the same week last year. China was the buyer of 1.38 MMT in that week, with the total known sales to China at 6.2 MMT, including the daily sales from the last couple weeks.
