Soybeans Higher to Start Tuesday Trade

Core Insights - Soybean futures experienced slight gains on Tuesday morning after a decline on Monday, with open interest indicating a rotation in ownership [1] - A private export sale of 123,000 MT of soybeans to China was reported, with expectations of a deal between the US and China regarding soybean commitments [2] - Export inspections revealed the lowest soybean export total since 2006, with a significant year-over-year decline [3] Group 1: Market Performance - Soybean futures showed gains of 2 to 3 cents on Tuesday morning after a decrease of 1 to 2 cents on Monday [1] - The cmdtyView national average Cash Bean price decreased by 1.5 cents to $10.50 1/2 [1] - Soymeal futures fell by 50 to 90 cents in the nearbys, while deferred contracts increased by 80 cents to $1.80 [1] Group 2: Export Data - USDA reported a private export sale of 123,000 MT of soybeans to China, with expectations of a deal being finalized soon [2] - Export inspections showed a total of 799,042 MT shipped, marking a 33.7% drop from the previous week and a 62.3% decrease from the same week last year [3] - Marketing year shipments totaled 10.937 MMT, reflecting a 44.5% year-over-year decline [3] Group 3: Upcoming Reports - USDA is set to release Export Sales data, with expectations of soybean sales between 0.5-1.4 MMT for the week of 10/9 [4] - Meal sales are anticipated to be between 150,000-400,000 MT, while bean oil sales are expected to range from 5,000-30,000 MT [4]