Soybeans Continuing Fall as USDA Punts

Market Overview - Soybean prices are down 5 to 6 cents in the front months, with the national average cash bean price at $10.18 1/4, a decrease of 4 3/4 cents [1] - Soymeal futures are down $3.50 to $4.00, while Soy Oil futures are lower by 25 to 30 points [1] WASDE Report Insights - The WASDE data was updated, but no adjustments were made on the US side, with projected ending stocks remaining steady at 290 million bushels [1] - The World Ag Outlook Board has decided to defer significant changes to the January report, indicating stable supply and demand [1] Global Production and Exports - South American soybean production remains steady, with world stocks increased by 0.38 million metric tons to 122.37 million metric tons [2] - Brazilian soybean exports for December are estimated at 3.33 million metric tons, which is 0.52 million metric tons above previous estimates and 3.3 million metric tons higher than the same month last year [3] - Argentina's economy minister announced a reduction in the soybean export tax by 2 points to 24%, with product taxes down to 22.5% [3] Price Summary - January 26 Soybeans are priced at $10.88 3/4, down 5 cents; Nearby Cash at $10.18 1/4, down 4 3/4 cents; March 26 Soybeans at $11.00, down 5 3/4 cents; May 26 Soybeans at $11.10 3/4, down 6 cents [3]