The soybean market is posing a Turnaround Tuesday bounce back of 2 to 4 cents ahead of Wednesday’s Christmas break. CmdtyView’s national front month Cash Bean price is up 2 1/2 cents at $9.21 ¾. Soymeal futures are back up $1.90/ton. Soy Oil futures are down 39 points so far on the session.
The markets will be closed on Wednesday, in observance of Christmas, with an early close today. The Thursday session will hard 8:30 am CST open. The weekly Export Sales report will be released on Friday due to the holiday.
Monday morning’s Export Inspections report showed a total of 1.747 MMT (64.2 mbu) of soybeans shipped in the week that ended on Thursday December 19. That was up 56.1% from the same week last year and up just 3% from last week. China continues to be the largest destination, this week of 682,683 MT, with 196,641 MT headed to Mexico. On the marketing year, shipments to all destinations are 26.998 MMT (992 mbu), which is a 21.1% increase from last year.
Jan 25 Soybeans are at $9.72, up 2 1/2 cents,
Nearby Cash is at $9.21 3/4, up 2 1/2 cents,
Mar 25 Soybeans are at $9.78, up 2 1/2 cents,
Jul 25 Soybeans are at $9.97 3/4, up 4 cents
