Soybeans saw weakness on Friday, as contracts were down 17 to 22 ¼ cents in the nearbys. January still managed a gain of 7 ½ cents on the week, as November expired at the close. The cmdtyView national average Cash Bean price was 22 3/4 cents lower at $10.50 1/4. Soymeal futures fell $1.40 to $6 on the day, with December up $5.40 this week. Soy Oil futures were down 2 to 10 points across the board, with the weekly move at 47 points higher.
USDA’s release of the backlog of unreported large daily sales from during the shutdown showed 1.348 MMT. China was the buyer of just 332,000 MT of that, with 616,000 MT to Unknown destinations. Another 237,500 MT of soybean meal was sold to the Philippines. Actual weekly report data won’t be caught up until January 2.
