Group 1 - Soybeans are experiencing gains of 2 to 3 cents in morning trading, following losses of 5 to 6 cents in the previous session, indicating fluctuating market conditions [1] - The national average Cash Bean price decreased by 5.5 cents to $9.92 1/4, while Soymeal futures fell between $2.00 and $5.60, and Soy Oil futures remained steady or slightly lower [1] - Export Inspections data revealed soybean shipments of 1.324 MMT (48.7 million bushels) for the week ending January 22, down 1.54% from the previous week but up 79.45% year-over-year [2] Group 2 - Marketing year soybean sales reached 33.035 MMT, which is 22% lower than the same week last year, contrasting with USDA's forecast of a 15% decline [3] - Brazil's soybean crop is reported to be 4.9% harvested, ahead of last year's 2.9% pace, with the crop estimate increased by 0.6 MMT to 181 MMT [3] - As of the latest trading data, March 26 Soybeans closed at $10.61 3/4, down 6 cents, while nearby cash prices were at $9.92 1/4, down 5.5 cents [3]

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Report's Core View - The U.S. soybean crush volume in November 2025 is expected to decline by 3.2% from October's record high but increase by 14.0% from November 2024 [1]. - The estimated soybean oil inventory of NOPA members as of November 30, 2025, is expected to reach a seven - month high, up 7.9% from the end of October and 29.9% from the previous year [1]. - From November 1 - 20, 2025, the U.S. 2025/26 soybean export sales are expected to net increase by 80 - 300 million tons, with 0 tons for 2026 - 27 [1]. - The 2025/26 global soybean export volume is expected to increase mainly driven by Brazil, while the exports of the U.S. and Argentina may decline [1]. - Malaysia's palm oil exports from December 1 - 10, 2025, increased by 46.98% compared to the same period last month [1]. Group 3: Summary by Category Overnight Market Information - U.S. November 2025 soybean crush volume is estimated to be 220.285 million bushels, with an estimated range of 213 million to 224.332 million bushels and a median of 220.85 million bushels [1]. - As of November 30, 2025, NOPA's soybean oil inventory is expected to be 1.408 billion pounds, with an estimated range of 1.32 billion to 1.508 billion pounds and a median of 1.4 billion pounds [1]. - From November 1 - 20, 2025, U.S. 2025/26 soybean export sales are expected to net increase by 80 - 300 million tons, 2025 - 26 U.S. soybean meal export sales by 10 - 45 million tons, and 2025 - 26 U.S. soybean oil export sales by 0.5 - 2.5 million tons [1]. - In 2025/26, Brazil's soybean exports are expected to reach a record 110 million tons, up 6.7% from 2024/25, and production is expected to reach 178.3 million tons, up 4.1% from the previous year [1]. - In 2025/26, the U.S. soybean exports are expected to be 43 million tons, down 14% from 2024/25, and Argentina's soybean exports are likely to decline due to reduced production and increased crush volume [1]. - Malaysia's palm oil exports from December 1 - 10, 2025, were 280,048 tons, up 46.98% from the same period last month [1]. Spot Price - The spot prices of soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu from December 8 - 12, 2025, are presented in a table [2].