Soybeans are in rally mode as traders come back from the thin holiday markets, with futures up 15 to 18 ¼ centas. There were another 401 deliveries against January soybeans issued on Friday evening. The cmdtyView national average Cash Bean price was 16 ¾ cents higher at $9.87 1/2. Soymeal futures are $3.50 to $4 higher at midday, with Soy Oil futures up 60 to 67 points. There were 20 deliveries issued for January soybean meal.
Export Inspections data showed soybean shipments at 980,518 MT (51.2 mbu) shipped in the week that ended on New Years Day. That was an increase of 24.3% from the week prior, but down 26.7% from same week last year. China was the top destination of 397,069 MT, with 182,553 MT to Egypt and 74,996 MT to Taiwan. Marketing year shipments have totaled 16.4 MMT (602.64 mbu), which is down 45.3% yr/yr.
