Soybeans were in rally mode as traders came back from the thin holiday markets, with futures closing up 15 to 18 cents. There were another 401 deliveries against January soybeans issued on Friday evening. The cmdtyView national average Cash Bean price was 17 1/4 cents higher at $9.87 1/4. Soymeal futures were $2.20 to $4.10 higher, with Soy Oil futures up 56 to 60 points. There were 20 deliveries issued for January soybean meal. Export Inspections data showed soybean shipments at 980,518 MT (51.2 mbu) sh ...

Group 1: Soybean Market Overview - Soybean futures experienced fractional gains on Tuesday morning after closing with losses of 4 to 5 cents on Monday, indicating a market reaction to Chinese purchases [1] - The national average cash bean price decreased by 4.5 cents to $10.01, while soymeal futures increased by 70 cents to $1.10, and soy oil futures fell by 30 to 70 cents [1] Group 2: Export Data - Export inspections reported soybean shipments at 795,661 MT (29.24 million bushels) for the week ending December 11, marking a 22.4% decrease from the previous week and a 59.6% decline year-over-year [2] - China was the leading destination for soybean exports, receiving 202,043 MT, followed by Germany with 136,515 MT and Vietnam with 80,425 MT [2] - Total marketing year shipments reached 13.702 MMT (503.47 million bushels), reflecting a 46.3% year-over-year decline [2] Group 3: Crushing and Stock Data - NOPA data indicated that members crushed 216.04 million bushels of soybeans in November, a 5.1% decrease from October's record but 11.83% higher than the previous year, setting a record for November [4] - Soybean oil stocks increased by 15.95% from the end of October to 1.513 billion lbs, which is also 39.58% larger year-over-year [4] Group 4: Trader Positions and Auctions - The CFTC's Commitment of Traders report showed that managed money reduced their net long positions in soybean futures and options by 15,336 contracts, bringing the total net long to 214,289 contracts [5] - China's state stockpiler sold 323,000 MT of imported beans and has scheduled another auction for 550,000 MT [5]

Market Overview - Soybeans closed with losses of 4 to 5 cents, with the national average Cash Bean price at $10.01, down 4.5 cents [1] - Soymeal futures increased by 70 cents to $1.10, while Soy Oil futures decreased by 30 to 70 cents [1] Export Data - Export Inspections data indicated soybean shipments of 795,661 MT, a decline of 22.4% from the previous week and 59.6% year-over-year [2] - China was the top destination for soybean exports, receiving 202,043 MT, followed by Germany with 136,515 MT and Vietnam with 80,425 MT [2] - Marketing year shipments totaled 13.702 MMT, reflecting a 46.3% decline year-over-year [2] Sales Reports - The Export Sales report showed 2.232 MMT in sales for the week ending November 20, with 2.14 MMT sold to China [3] - Known sales to China now total 4.2 MMT, while meal sales were recorded at 150,951 MT, on the lower end of estimates [3] Crushing and Stocks - NOPA data revealed that members crushed 216.04 million bushels in November, a 5.1% drop from October but 11.83% larger than last year [4] - Soybean oil stocks increased by 15.95% from the end of October to 1.513 billion lbs, which is 39.58% larger year-over-year [4] Trader Positions - CFTC's Commitment of Traders report indicated that managed money trimmed 15,336 contracts from their net long position in soybean futures and options, which stood at 214,289 contracts [5] - AgRural reported that the Brazilian soybean crop is 97% planted as of Thursday [5]

Group 1 - The soybean market experienced gains of 4 to 7 ½ cents, with the national average Cash Bean price rising by 8 1/4 cents to $9.53 1/2 [1] - Soymeal futures increased by 30 cents to $1.90 in the front months, while back months remained steady to 60 cents lower [1] - Soy Oil prices rose by 44 to 70 points, with 25 deliveries reported for October bean oil [1] Group 2 - Brazilian soybean exports for October are estimated at 7.12 MMT, significantly higher than the 4.44 MMT during the same period last year [3] - November soybeans have averaged $10.21 through the first six trading sessions of October, which will be used for crop insurance harvest price discovery [1][2] - Despite the suspension of the weekly Export Sales report, traders anticipate soybean sales between 0.6-1.6 MMT for the week of 10/2 [2]

Corn Market - The corn market showed new buying interest with December futures testing $4.10, reaching a high of $4.1925 overnight on low trade volume of 10,500 contracts [1] - The National Corn Index increased to $3.7450, up 1.25 cents from Tuesday, indicating slight upward pressure on cash bids [1] - December futures are currently priced at $4.1650, placing them in the lower 23% of their 5-year price distribution range based on weekly closes [1] - Open interest in corn increased by 22,000 contracts during the recent rally, suggesting that the price movement was not solely due to short-covering [1] Soybean Market - The soybean market remained near unchanged, with November futures showing a trading range of 6.0 cents and a volume of 15,300 contracts [3] - The National Soybean Index rose to $9.3350, up 13.25 cents, but there are concerns about the sustainability of this increase due to weakening basis in some areas [3] - The Index recorded its lowest monthly close since August 2020, raising questions about future price movements amid government shutdowns affecting sales announcements [3] Wheat Market - The wheat sub-sector was also near unchanged, with December SRW futures showing a trading range of 2.75 cents and a volume of 5,350 contracts [4] - The National SRW Index reported a daily gain of 3.0 cents, despite December futures closing lower, indicating potential discrepancies in market fundamentals [4] - Concerns arise regarding the reliability of National Indexes, as significant changes in cash prices and basis could indicate corrupted data affecting market analysis [4]