Soybean prices are plummeting, with front months dropping seven to nine cents. The national average cash bean price is now at nine dollars and seventy-nine and three-quarters cents, down eight and three-quarters cents from last check. Soymeal futures took a hit, falling three dollars and fifty cents to four dollars per ton, while soy oil futures inched up two to six points, boosted by rising crude oil prices.The USDA announced a private export sale of one hundred thousand metric tons of soybeans to Egypt, offering a glimmer of hope amidst the downturn. Export inspections for the week ending December twenty-fifth were at seven hundred fifty thousand three hundred twelve metric tons, a nineteen point three percent decrease from the previous week and a fifty-four point four percent drop from the same week last year.China led the destinations with one hundred thirty-five thousand four hundred seventeen metric tons, followed by one hundred twenty-seven thousand seventeen metric tons to Egypt and eighty-nine thousand two hundred twenty-seven metric tons to Vietnam. The marketing year total now stands at fifteen point three nine six million metric tons, forty-six point three percent behind last year.January twenty-six soybeans closed at ten dollars and forty-nine and three-quarters cents, down nine cents. March is at ten dollars and sixty-three and three-quarters cents, off eight and three-quarters cents, and May sits at ten dollars and seventy-six and one-half cents, down seven and three-quarters cents. Keep a close eye on these trends as trade flows remain sluggish. Checkout Solipillow.com

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