Soybean futures continued to show weakness ahead of Friday’s massive report day, with most contracts 8 to 9 cents lower. Meal futures were down $1.60/ton, with nearby soy oil 26 points in the red. The USDA reported a private export sale of 260,000 MT of soybeans to unknown destinations this morning. That sale was split with 65,000 MT for 17/18 delivery and 195,000 MT for 18/19 delivery. Expectations ahead of the Thursday USDA Export Sales report show 17/18 soybean sales in a range of 500,000-850,000 MT for the New Year week of Jan 4. The average trade guess for December 1 soybean stocks is running 3.181 billion bushels, which is 9.77% above last December. The range of analysts’ estimates is fairly wide at 2.963 bbu to 3.306 bbu.

Jan 18 Soybeans closed at $9.47, down 8 3/4 cents,

Mar 18 Soybeans closed at $9.55, down 8 3/4 cents,

May 18 Soybeans closed at $9.66, down 8 1/2 cents,

Aug 18 Soybeans closed at $9.78 1/4, down 8 1/4 cents,

Jan 18 Soybean Meal closed at $312.90, down $1.60,

Jan 18 Soybean Oil closed at $33.29, down $0.26

Market Commentary provided by:

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