Soybeans Turning Around Higher on Tuesday Morning

Market Overview - Soybeans are showing strength with gains of 4 to 6 cents, following a holiday-shortened week where contracts closed 7 to 10 cents higher [1] - Open interest decreased by 3,169 contracts, with January contracts dropping by 7,286 contracts [1] - The national average cash bean price is reported at $10.57 1/2, down 7 cents [1] Export Data - USDA reported soybean export shipments at 920,194 MT (33.81 million bushels) for the week ending November 27, which is 56.4% lower than the same week in 2024 but up 13.8% from the previous week [2] - Italy was the top destination for soybean exports with 201,766 MT, followed by Egypt with 126,925 MT and Mexico with 83,620 MT [2] - Cumulative marketing year exports for 2025/26 are at 11.87 MMT (436.27 million bushels), which is 45.6% below the same period last year [2] Sales Data - USDA's Export Sales data for the week ending October 23 indicated soybean sales of 1.45 MMT, which is 30.8% higher than the previous week but 37.1% lower than last year [3] - Soybean meal sales for the same week were reported at 640,021 MT, exceeding trade expectations of 50,000-500,000 MT [3] - Bean oil sales were recorded at 29,820 MT, also surpassing estimates of 5,000 to 25,000 MT [3] Futures Market - January 26 Soybeans closed at $11.28, down 9 3/4 cents, while currently up 5 ¼ cents [4] - Nearby cash price for soybeans is $10.57 1/2, down 7 cents [4] - March 26 Soybeans closed at $11.38, down 8 cents, and May 26 Soybeans closed at $11.47 1/2, down 7 3/4 cents [4]