Soybeans Holding onto Midday Gains on Tuesday

Market Overview - Soybeans are experiencing gains of 1 to 4 cents, with the national average cash bean price rising by 2.25 cents to $9.90.5 [1] - Soymeal futures have increased by 50 cents to $1, while soy oil futures have decreased by 10 to 15 points [1] Export Activity - China has purchased 10 cargoes of US soybeans for shipments scheduled between March and May, with USDA confirming a private export sale of 336,000 MT to China [1] - Total soybean commitments stand at 27.698 MMT, reflecting a 31% year-over-year decline, which is only 51% of USDA's projection and below the 52% average pace [2] Speculative Trading - CFTC data indicates that spec traders have reduced their net long position in soybean futures and options by 25,841 contracts, bringing the total net long to 84,562 contracts as of the week ending December 30 [2] EU Import Data - EU soybean imports have reached 6.46 MMT from July 1 to January 4, which is 0.88 MMT lower than the previous year according to European Commission data [3]