Soybeans Slip Lower on Friday’s Thin Trade
Soybean futures experienced a slight dip on Friday, with front months showing a decrease of 3 to 4 ½ cents, while January saw a modest increase of 9 ½ cents. The cmdtyView national average Cash Bean price also rose by 4 cents to $9.88 1/2. Soymeal futures followed suit, dropping by 50 cents to $1/ton, although January managed to hold onto a $6.10 gain for the week. Soy Oil futures were down by 30 to 35 points, with January showing an increase of 82 points over the week.
The government’s reports were delayed due to the holiday, leading to limited news in the market. The next Export Sales release, covering the week ending on 12/18, is scheduled for next Wednesday. The thin trade also played a role in limiting movement to close out the week.
Closing prices for various soybean futures contracts were as follows: Jan 26 Soybeans closed at $10.58 3/4, down 4 1/2 cents; Nearby Cash was $9.88 1/2, down 4 cents; Mar 26 Soybeans closed at $10.72 1/2, down 4 cents; May 26 Soybeans closed at $10.84 1/4, down 3 1/4 cents.
It is important to note that the information and data provided in this article are solely for informational purposes. The author, Austin Schroeder, does not hold any positions in the securities mentioned. For more details, the original article can be found on Barchart.com.
