Market Overview - Soybeans are experiencing losses of 8 to 11 cents, with the national average cash bean price at $10.24, down 10.5 cents [1] - Soymeal futures are down by 50 cents to $1, while soy oil futures are lower by 45 to 50 points [1] Export Data - The Export Inspections report indicates that 1.018 MMT (37.41 million bushels) of soybeans were shipped in the week of December 4, which is 41.4% lower than the same week last year but 10.6% higher than the previous week [2] - Mexico was the largest buyer, importing 132,050 MT, followed by China with 119,895 MT and Indonesia with 91,171 MT [2] - The total marketing year shipments now stand at 12.9 MMT (473.98 million bushels), reflecting a 45.2% decrease compared to the same period last year [2] Sales and Bookings - USDA Export Sales data for the week ending November 6 showed soybean bookings at 510,554 MT, which is below estimates of 0.45-1.6 MMT and represents a marketing year low [3] - Soybean meal sales were recorded at 93,483 MT, also on the low side of estimates, while bean oil sales were at 12,549 MT, meeting expectations [3] Market Positioning - CFTC Commitment of Trade data from the week of October 28 revealed that managed money increased their net long position by 83,160 contracts to 118,489 contracts, coinciding with the Trump/Xi meeting [4] - Commercials increased their net short position by 96,154 contracts to 245,133 contracts, marking the largest net short since May 2022 [4] Future Projections - The WASDE report is expected to update on Tuesday, with traders anticipating US soybean ending stocks to rise to 306 million bushels, an increase of 16 million bushels from the previous month [5] - China imported 8.11 MMT of soybeans in November, reflecting a 14.5% decrease from October [5] - The Brazilian soybean crop is reported to be 94% planted, slightly behind last year's pace of 95% [5]