Soybeans are slipping back at midday, with losses of 4 to 6 cents. The cmdtyView national average Cash Bean price was 4 1/2 cents lower at $10.49 1/2. Soymeal futures are up 20 cents to $1.30, with Soy Oil futures 75 points higher. 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).
