Soybeans Post Double Digit Gains on Monday

Market Performance - Soybean futures experienced a rally, closing up 15 to 18 cents, with January soybeans closing at $10.47 1/4 [1] - The national average cash bean price increased by 17 1/4 cents to $9.87 1/4 [1] - Soymeal futures rose by $2.20 to $4.10, while soy oil futures increased by 56 to 60 points [1] Export Data - Export inspections reported soybean shipments at 980,518 MT (51.2 million bushels) for the week ending on New Year's Day, a 24.3% increase from the previous week but a 26.7% decrease from the same week last year [2] - China was the leading destination for soybean exports, receiving 397,069 MT, followed by Egypt with 182,553 MT and Taiwan with 74,996 MT [2] - Total marketing year shipments reached 16.4 MMT (602.64 million bushels), reflecting a 45.3% year-over-year decline [2] Sales Data - Export sales for the week ending December 25 were reported at 1.178 MMT, within analyst expectations of 0.7-1.8 MMT, and more than double the same week last year [3] - Soymeal sales were recorded at 110,642 MT, below estimates of 150,000-500,000 MT, while bean oil sales were at 6,238 MT, aligning with the 0-20,000 MT estimates [3] Speculative Positions - CFTC data indicated that spec traders reduced their net long position in soybean futures and options by 25,841 contracts, bringing the total net long to 84,562 contracts [4] - StoneX projected the Brazilian soybean crop for 2025/26 at 177.6 MMT, an increase of 0.4 MMT from previous estimates [4]