Soybeans are trading with New Years Eve losses of 2 to 4 cents so far. Futures closed Tuesday with weakness, as contracts were down fractionally to 3 1/4 cents. Open interest was down 16,065 contracts on Tuesday mostly in January, with Wednesday as first notice day. There were 1,062 deliveries issued against January beans on FND. The cmdtyView national average Cash Bean price was 3/4 cent lower at $9.80. Soymeal futures were steady to $2.10/ton lower, with Soy Oil futures up 7 to 15 points on the day. There no deliveries for January soy meal, with 7 issued for Jan bean oil.
The market will be closed on Thursday for New Years Day, with a hard open at 8:30 am CST on Friday.
USDA will give us another weekly update for the week ending on 12/18 this morning, with expectations of between 1.4 to 2.4 MMT in soybean sales. Meal sales are seen between 200,000-500,000 MT, with soy oil in a range of 0-24,000 MT
ANEC estimates the Brazilian soybean exports at 3.02 MMT, which was a 0.55 MMT drop from the same period last year.
Jan 26 Soybeans closed at $10.46 1/4, down 3 1/4 cents, currently down 4 cents
Nearby Cash was $9.80, down 3/4 cent,
Mar 26 Soybeans closed at $10.62 1/4, down 1 1/4 cents, currently down 3 1/4 cents
May 26 Soybeans closed at $10.74 1/2, down 3/4 cent, currently down 3 cents
