Soybeans Extend Losses to Thursday’s Close

Core Insights - Soybean prices experienced losses of 6 to 7 cents, with the national average cash bean price reported at $9.81 1/4, down 5 3/4 cents [1] - A private export sale of 114,000 MT of soybeans was reported by USDA to unknown destinations [1] Group 1: Export Sales Data - Weekly export sales for soybeans reached 1.106 MMT for the week ending on 11/27, a decrease of 52.3% from the previous week and less than half of the same week last year [2] - Accumulated sale commitments, both shipped and unshipped, stand at 21.829 MMT (802 million bushels), which is 39.3% lower than the same period last year [2] - The decline in commitments is largely attributed to China, with commitments down 14.14 MMT, of which 13.4 MMT is specifically to China [2] Group 2: Meal and Oil Sales - Meal sales totaled 436,046 MT, nearing the upper end of the estimates of 200,000-450,000 MT [3] - Bean oil sales were recorded at 25,516 MT, exceeding the trade expectations of 5,000-25,000 MT [3] Group 3: Futures Prices - January 26 soybeans closed at $10.52 1/4, down 6 cents [3] - Nearby cash soybeans were priced at $9.81 1/4, down 5 3/4 cents [3] - March 26 soybeans closed at $10.62, down 6 3/4 cents, while May 26 soybeans closed at $10.73 1/4, also down 6 3/4 cents [3]