Soybeans prices dipped this week but closed with marginal gains, marking March up by 16 3/4 cents. Cash bean prices averaged at $9.90 3/4. A private export sale of 198,000 MT of soybeans was sold to unknown destinations, with China purchasing 10 cargoes for April-May shipment. USDA data shows 28.576 MMT in US soybean export sale commitments as of 1/1, with shipments down 45% from a year ago.

Sinograin has announced an auction of 1.1 MMT of imported soybeans for January 13. Quarterly Grain Stocks data releasing Monday is expected to show 3.25 bbu of soybean stocks on December 1. Commitment of Traders data reveals spec traders cut back 26,845 contracts from their net long position in soybeans.

Closing prices for soybeans on Jan 26 were $10.48 1/2, with nearby cash at $9.90 3/4. March 26 soybeans closed at $10.62 1/2, while May 26 soybeans closed at $10.74 1/2. Austin Schroeder does not hold any positions in the mentioned securities. This information is for informational purposes only.

Read more at Yahoo Finance: Soybeans Slips from Highs, Closes Friday with Marginal Gains