Soybean Prices Dip, China Deal Expected

Soybean prices experienced a minor decline on Monday, with immediate delivery contracts dropping by one to two cents. However, some 2026 contracts showed resilience. The national average cash price for soybeans also decreased by about one and a half cents. Soymeal futures were mostly down for nearby contracts, but later deliveries gained between eighty cents and one dollar eighty. Soy oil futures were mostly lower, dropping by two to eight points.The USDA reported a private sale of one hundred twenty-three thousand metric tons of soybeans to China, and the U.S. and China are expected to finalize a deal for twelve million metric tons of soybeans soon. However, recent export inspection data showed the lowest soybean export total for a single week since 2006, with just under eight hundred thousand metric tons shipped.Looking ahead, the USDA will release new export sales data tomorrow, with traders anticipating sales of between five hundred thousand and one point four million metric tons of corn, one hundred fifty thousand to four hundred thousand metric tons of soymeal, and five thousand to thirty thousand metric tons of soy oil.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.