Soybeans are showing some strength so far on Tuesday, with gains of 4 to 6 cents. Traders were back to it on Monday, after the holiday shortened week, as contracts closed 7 to 10 cents higher. Open interest was down 3,169 contracts, with Jan dropping 7,286 contracts. The cmdtyView national average Cash Bean price was 7 cents lower at $10.57 1/2. Soymeal futures were down $3.30 to $4.80, with Soy Oil futures 29 to 55 points higher. There were no deliveries issued against December soybean meal overnight, with 123 for bean oil.
USDA tallied soybean export shipments at 920,194 MT (33.81 mbu) during the week ending on November 27. That was 56.4% below the same week in 2024 and up 13.8% from the week prior. Nothing was shipped to China. Italy was the top destination of 201,766 MT, with 126,925 MT headed to Egypt and 83,620 MT to Mexico. Marketing year exports for 2025/26 are now 11.87 MMT (436.27 mbu) since September 1, which is now 45.6% below the same period last year.
