Core Insights - Soybean prices are experiencing a slight increase, with contracts up 2 to 3 ¼ cents at midday, and the national average cash bean price rising to $10.71 3/4 [1] - NOPA data indicates that soybean crushing in January reached 221.56 million bushels, which is 10.57% higher than last year but down 1.52% from the previous month [1] - Soybean oil stocks have increased significantly, rising 15.6% from last month and 49.07% compared to last year [1] Export Data - Export inspections reported soybean shipments of 1.203 million metric tons (44.2 million bushels) for the week ending February 12, marking a 5.01% increase from the previous week and a 65.3% rise year-over-year [2] - China remains the largest destination for soybean exports, receiving 684,069 metric tons, followed by Egypt with 223,890 metric tons and Colombia with 81,455 metric tons [2] - Cumulative marketing year shipments have reached 24.35 million metric tons (894.7 million bushels), reflecting a year-over-year increase of 32.4% [2] Market Positioning - CFTC data shows that managed money has increased its net long position by 94,316 contracts, bringing the total to 123,148 contracts as of February 10 [3] - The Brazilian soybean crop is currently estimated to be 21% harvested, a decrease from the 24% harvest pace recorded in 2025 [3] - Current soybean prices for various contracts are as follows: March 26 at $11.36 1/4, Nearby Cash at $10.71 3/4, May 26 at $11.50 3/4, and July 26 at $11.63 [3]

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]

Group 1 - Soybeans experienced losses of 3 to 4.5 cents at the close, with the national average Cash Bean price down by 5 cents to $9.87 1/4 [1] - Soymeal futures declined by $4.10 to $5.20, while Soy Oil futures remained steady or increased by up to 16 points [1] - The USDA reported private export sales of 198,000 MT of soybeans to China and 125,000 MT to unknown destinations [1] Group 2 - Managed money added 1,137 contracts to their net long position, bringing the total to 215,428 contracts in soybean futures and options as of the week ending on December 2 [2] - ANEC estimates Brazilian soybean exports for December at 3.57 MMT, reflecting a 0.24 MMT increase from the previous week's estimate [2] - Closing prices for January 26 Soybeans were $10.58 1/4 (down 4.5 cents), Nearby Cash at $9.87 1/4 (down 5 cents), March 26 Soybeans at $10.68 3/4 (down 3 cents), and May 26 Soybeans at $10.80 (down 3 cents) [2]