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SFVN News 30.12.2024: Soybeans Feel Pressure on Friday

30 thg 12, 2024

Corn

Export Sales data showed a total of 1.711 million mt of 2024/25 corn was booked during the week of December 19. This was above the estimated trading range of 1 million to 1.6 million mt and 45.7% higher than the previous week and the highest in three weeks.


Mexico was the largest buyer with 608,900 mt, with Columbia buying 363,900 mt. Another 10,000 mt were sold in 2025/26, all to Japan, compared to estimates of 0-50,000 mt. The weekly EIA was pushed back to this morning, with production showing a slight increase of 4,000 b/d to 1.107 million b/d for the week ending December 20. Ethanol stocks rose 438,000 barrels to 23.074 million barrels.


The January 2025 contract settled at 454 cents per bushel, up 0.25 cent, or 0.06%, from the previous week.


Wheat

The Deferred Export Sales report showed total wheat sales of 612,408 tons for the week of December 19, exceeding trade estimates of 250,000 to 600,000 tons. That was the largest total in 25 weeks and 33.73% larger than the previous week. Mexico was the buyer of 132,400 tons, Thailand bought 126,100 tons, and 120,100 tons were sold to Japan. Another 12,600 tons were reported for the 2025/26 marketing year.


The January 2025 contract settled at 546.5 cents/bushel, up 5.5 cents, or 1.02%.


Soybeans

The Weekly Export Sales Report from this morning recorded 978,351 tonnes of 2024/25 soybeans sold during the week of December 19. This was below analysts’ estimates of 1 million to 1.8 million tonnes and a MY low.


China was the largest buyer at 410,600 tonnes, followed by Spain at 259,500 tonnes. Another 125,000 tonnes were sold in 2025/26 at the premium of 70,000 to 125,000 tonnes. Soybean meal sales totaled 485,635 mt, with 389,634 mt for 2024/25, exceeding the estimated trade range of 200,000 to 450,000 mt. Columbia produced 154,100 mt. Soybean oil was reported at 40,400 mt, well above the trade estimate of 5,000 to 15,000 mt.


The January 2025 soybean contract settled at 980 cents/bushel, down 8 cents, or 0.81%.

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