Soybeans are trading with 2 to 3 cent gains so far on Monday AM trade. Futures pulled back lower into the weekend with contracts down 4 to 6 cents at the close, as December was 4 ¼ cents higher on the week. The cmdtyView national average Cash Bean price was 5 3/4 cents lower at $9.40. Soymeal futures were 60 cents lower to 70 cents higher on Friday, with December up $4 last week. Soy Oil futures were 20 to 39 points in the red on heading into the weekend, with December down 14 points since last Friday. The average close for November soybeans in the three days of October so far is at $10.18, which is part of discovery of the harvest price for crop insurance.
CFTC was suspended from Friday due to the government shutdown, with the Crop Progress report this afternoon also likely to be suspended.
A few spots in southeast NE, IA, and the ECB will see 1 to 2 inches of rain in the next week putting a pause to harvest in parts of the country. For the most part, harvest should be able to continue with a few exceptions.
Soybean planting in Brazil is 9 % planted as of Thursday according to AgRural.
Nov 25 Soybeans closed at $10.18, down 5 3/4 cents, currently up 2 1/4 cents
Nearby Cash was $9.40 1/1, down 5 3/4 cents,
Jan 26 Soybeans closed at $10.37, down 4 3/4 cents, currently up 2 1/4 cents
Mar 26 Soybeans closed at $10.52 1/4, down 4 cents, currently up 2 1/2 cents
