Soybean Losses to Pushing to Monday

Group 1: Soybean Market Overview - Soybeans are experiencing losses of 5 to 6 cents, with the national average cash bean price at $9.93 1/4, down 4 1/4 cents [1] - Soybean export shipments for the week ending January 29 totaled 1.31 MMT (48.15 mbu), which is 1.9% lower than the previous week but 14.9% higher than the same week last year [1] - Marketing year exports for 2025/26 are at 21.99 MMT (808 mbu) since September 1, representing a 35.7% decrease compared to the same period last year [1] Group 2: International Trade Developments - President Trump announced a successful call with India's President Modi, resulting in a reduction of tariffs from 25% to 18% and India agreeing to purchase over $500 billion of U.S. products, including agricultural goods [2] - India has historically been a top buyer of U.S. bean oil and was the leading buyer in 2025 [2] Group 3: Speculative Trading and Crop Estimates - CFTC data indicates that speculative funds increased their net long positions in soybean futures and options by 7,261 contracts, bringing the total to a net long of 17,321 contracts as of January 27 [3] - Brazil's soybean crop is currently estimated to be 10% harvested, with StoneX projecting the crop at 181.6 MMT, an increase of 4 MMT from previous estimates [4] - The Celeres forecast for Brazil's soybean crop has also been raised by 4.1 MMT to 181.3 MMT [4]