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Soybean futures are currently 8 to 9 cents lower in the front months at midday, as Jan is back below the $10 mark. December meal is down $4.80/ton, with nearby bean oil 7 points lower. This morning’s Export Sales report showed 2017/18 sales blowing past expectations at 2.016 MMT. That was more than double the previous week’s sales and 51.8% larger than the same week last year. China was the primary buyer at 1.293 MMT, with 447,000 MT switched from Unknown. There were also sales of 70,352 MT for 18/19. Soy meal sales for 17/18 ran 166,428 MT and 20,000 for 18/19 during the week of Nov 30, as soy oil sales totaled 21,029. Census data shows soybean exports in October at 9.441 MMT, down 15.8% from last year but more than double September’s total.

Jan 18 Soybeans are at $9.93 3/4, down 9 cents,

Mar 18 Soybeans are at $10.06 1/4, down 8 1/2 cents,

May 18 Soybeans are at $10.16 1/2, down 8 3/4 cents,

Jul 18 Soybeans are at $10.25, down 8 1/4 cents,

Dec 17 Soybean Meal is at $335.60, down $4.80

Dec 17 Soybean Oil is at $33.02, down $0.07

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