Friday trading ahead of the three day break has old crop soybean futures 4 to 8 cents weaker at midday. New crop contracts are in the black with 1 1/2 to 1 3/4 cent gains. Soymeal is trading $0.20 to $1/ton higher. Soy oil futures are down triple digits with losses of at least 107 points. A large private export sale for 318,000 MT of soybeans to unknown was announced in the mandatory reporting system. USDA’s weekly Export Sales report showed soybean bookings last week were 908k MT. Total soybean commitments are now 2.046 bbu, which is 92% of USDA’s forecast. NOPA members processed 183.159 mbu of soybeans in December. That was below the 185 mbu average trade guess but still up from November and a record for December. Soy oil stocks were reported at 1.7 billion lbs. Slightly firmer than the average of trade estimates, but still in the middle of the range of expectations. Rosario Grains Exchange estimates 47 MMT of Argentine soybean output in 2021. Citing reduced yield potential in So. Am., the International Grains Council reduced 2020/21 soy output by 6 MMT to 359 MMT. They carried the change through the demand side leaving stocks at 45 MMT.

--- provided by Brugler Marketing & Management