Soybeans Fractionally Lower to Kickoff Monday Trade

Austin Schroeder Barchart Mon Feb 10, 7:23AM CST
Soybeans emerging in the spring by jcesar2015 via Pixabay

Soybeans are trading with fractional losses in the nearbys early on Monday. They were to lower trade on Friday, with losses of 8 to 11 cents in most front months. Nearby March was up 7 ½ cents on the week despite the Friday pressure. CmdtyView’s national front month Cash Bean price was down 11 cents at $9.88 ¾. Soymeal futures were down $5.00/ton, with Soy Oil futures 58 points higher. President Trump has released a statement saying he will announce reciprocal tariffs on many countries next week, causing some to take some risk off ahead of the weekend.

Soybean speculators added just 533 contracts to their net long position as of February 4 to 57,029 contracts according to CFTC data released on Friday afternoon.

USDA’s Export Sales report shows total export sales commitments at 43.071 MMT as of January 30, 12% larger than the same time last year. That is 87% of USDA’s export forecast, ahead of the 85% average. 

Stats Canada showed soybean stocks at 4.151 MMT as of December 31, up 10.9% from last year. Canola stocks were tallied at 11.382 MMT, a 19.2% decline from the end of 2023.

Safras & Mercado estimates the Brazilian soybean crop at 174.88 MMT, up 1.17 MMT from the previous number. Brazil’s Trade Ministry pegs the January soybean export total at 1.072 MMT. That is down 62.43% from last year and a 46.5% drop from the December total. AgRural estimated the country’s soybean harvest at 15% complete, which lags the 23% pace from this early last year. 

Mar 25 Soybeans  closed at $10.49 1/2, down 11 cents, currently down 1/2 cent

Nearby Cash  was $9.88 3/4, down 11 cents,

May 25 Soybeans  closed at $10.65 1/2, down 10 1/4 cents, currently down 1/2 cents

Nov 25 Soybeans  closed at $10.57 1/2, down 8 1/2 cents, currently down 1 1/4 cents

New Crop Cash  was $9.93 1/4, down 8 1/2 cents,


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.