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This is your Daily Soybeans Price Tracker with Vanessa Clark podcast.
Hey everyone, welcome back to Daily Soybeans Price Tracker. I'm Vanessa Clark, and I'm so glad you're tuning in today, Friday, November 28th. We've got some exciting market movement to break down after the Thanksgiving holiday, so stick around.
Let's jump right into what's happening with soybeans today. January soybean futures closed at eleven dollars and thirty seven and three quarter cents per bushel, up six and a quarter cents on the day. That's solid momentum coming out of the holiday week. For those of you tracking the broader picture, we saw soybeans climb twelve and three quarter cents for the entire week, which shows real buying interest returning to the market.
So what's driving this rally? Well, the USDA announced a flash sale of three hundred twelve thousand metric tons of soybeans heading to China on Friday morning. That's on top of reports that China has been loading vessels in the Gulf with American soybeans. We're also hearing that China halted soybean imports from five Brazilian plants due to sanitation concerns, which is definitely giving U.S. soybeans a competitive advantage right now.
Here's what's really interesting from a market perspective. The USDA released their latest World Agricultural Supply and Demand Estimates report, and they raised the U.S. season average soybean price for twenty twenty five to twenty twenty six to ten dollars and fifty cents per bushel. That's up fifty cents from their previous estimate. They also bumped soybean meal prices up by twenty dollars to three hundred dollars per short ton.
Now, let's talk supply and demand because this is crucial. U.S. soybean production came in lower than expected at four point three billion bushels, down forty eight million bushels. The yield dropped to fifty three bushels per acre. That means smaller supplies are supporting these higher prices we're seeing. Export commitments are near fourteen point six million metric tons as of mid October, compared to twenty three point eight million the year before, so we're behind on export pace but definitely picking up momentum.
One more thing worth noting. The USDA just announced a new America First Trade Promotion Program with two hundred eighty five million dollars in funding for twenty twenty six to expand soybean exports to non traditional markets. The American Soybean Association is calling this a game changer for diversifying buyers and strengthening trade relationships globally.
Thanks so much for listening to Daily Soybeans Price Tracker. Make sure you subscribe and tune in next time for more market insights and price updates. Keep watching those soybean futures, and I'll see you tomorrow.
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