Soybeans Starting Friday with Penny Losses

Market Overview - Soybeans are experiencing early losses of 1 to 1.5 cents, following a previous session where futures closed up by 0.25 to 3.25 cents, primarily driven by front-month contracts [1] - The national average cash bean price increased by 3.5 cents to $9.36 1/4, while soymeal futures decreased by $1.10 to $3.10, and soy oil futures rose by 24 to 45 points [1] Export Dynamics - Argentina lifted its suspension of export taxes after reaching a $7 billion export target within a few days, indicating strong export activity [2] - U.S. soybean purchases from China have been low, with a Chinese commerce ministry spokesperson urging the U.S. to remove "unreasonable tariffs" [2] Sales Data - Export sales data for the week ending September 18 showed 724,459 MT of soybean sales, a 21.5% decline from the previous week and only half of the sales from the same week last year, with Egypt being the largest buyer at 166,200 MT [3] - Meal sales totaled 226,164 MT, falling short of estimates, while soybean oil sales reached 29,922 MT, exceeding expectations [4] Price Movements - November 25 soybeans closed at $10.12 1/4, up 3.25 cents, while nearby cash was at $9.36 1/4, up 3.5 cents [5] - January 26 soybeans closed at $10.31 1/4, up 2.75 cents, and March 26 soybeans closed at $10.47 1/2, also up 2.75 cents [5]