Soybean Quotes on Evening See New Year Decline

As the final trading day of the year approaches, soybean futures are experiencing notable pressure heading into New Years Eve. The contract structure shows weakness across key delivery months, with January contracts sliding between 2 to 4 cents while nearby sessions recorded fractional losses up to 3 1/4 cents.

Price Action Across Contract Months

The Cash Bean benchmark settled at $9.80, representing a decline of 3/4 cent from previous levels. Front-month February 26 Soybeans closed at $10.46 1/4, down 3 1/4 cents with additional losses of 4 cents recorded in current trading sessions. March 26 contracts finished at $10.62 1/4, off 1 1/4 cents and currently trading down 3 1/4 cents. The May 26 expiration saw more modest pressure, down 3/4 cent to $10.74 1/2, with 3 additional cents of loss in present quotes on evening sessions.

Market Participation and Deliveries

Soymeal futures traded steady to slightly lower, off approximately $2.10/ton, while Soy Oil contracts posted gains of 7 to 15 points. Open interest contracted by 16,065 contracts Tuesday, predominantly concentrated in January positions ahead of first notice day Wednesday. January soybean deliveries totaled 1,062 contracts issued on FND, while bean oil saw 7 contract deliveries. Notably, no January soy meal deliveries were issued. The absence of soybean meal activity contrasts with oil’s modest movement.

Outlook and Supply Considerations

The USDA is expected to release its weekly export update for the period ending 12/18, with soybean sales anticipated between 1.4 to 2.4 MMT. Meal sales projections range from 200,000 to 500,000 MT, while soy oil export estimates span 0 to 24,000 MT. International dynamics add pressure, as ANEC estimates Brazilian soybean exports at 3.02 MMT—a significant 0.55 MMT decline compared to the equivalent period last year.

Market participants should note that trading will be closed Thursday for New Years Day, with markets resuming Friday at 8:30 am CST.