Soybean futures traded weaker on Monday, even as some export demand signals emerged. Traders saw soybeans retreat by about 6–8 cents, and the national average cash bean price dropped to around $10.41¼ per bushel midday. Soymeal futures also declined, while soy oil futures managed gains of roughly 100–107 points on the session.
The U.S. Department of Agriculture reported a private export sale of 264,000 metric tons of soybeans to China earlier in the day — a positive sign of demand — but overall export inspections for the week ending Feb. 5 came in about 13.8 % below the prior week and roughly 3.5 % below the same period last year.
China remained the largest destination, followed by buyers in Mexico and Germany. While exports still continue, the weaker weekly shipment figures and lagging pace of overseas delivery helped put downward pressure on prices, offsetting some of the support from fresh sales announcements.
