Soybeans fell back by 9 to 10 cents in the front months on Wednesday. The cmdtyView national average Cash Bean price was 8 3/4 cents lower at $10.45. Soymeal futures were down 20 cents to $1.70, with Soy Oil futures 89 to 101 points lower. There were 3 deliveries issued against December soybean meal overnight, with 128 for December bean oil.
Earlier this morning Treasury Secretary Bessent stated that China is in perfect cadence to complete the promised soybean purchases. Known purchases via USDA’s daily Export Sales reporting system are just over 2.25 MMT, of the reported 12 MMT commitments, which are now expected to be complete by the end of February (vs. the end of the calendar year as administration officials previously suggested).
