Soybeans are trading with 16 to 21 cent midday gain on Monday. There were 207 deliveries issued on Friday night, taking the total to 884 for the month. The cmdtyView national average Cash Bean price is 22 1/4 cents higher at $10.58 1/2. Soymeal futures are back down $1.70 to $1.90 at midday, with December rallying $27.50 on the week. Soy Oil futures are back up $108 o 111 points at midday
Export Inspections data showed 965,063 MT (35.46 mbu) of soybeans shipped in the week that ended on October 30, which was a drop of 16.8% from the week prior and 58.3% below the same week last year. Egypt was the top destination of 234,353 MT, with 138,647 MT to Italy and 133,192 MT to Mexico. Marketing year shipments have totaled 7.78 MMT (285.88 mbu), a 40% decline yr/yr.
The monthly Fats & Oils report will not be released again this afternoon, though analysts are looking for 205.4 mbu of soybeans crushed during September.
AgRural estimates the Brazilian soybean crop at 47% planted, as of Thursday, now behind the 54% pace from last year.
Nov 25 Soybeans are at $11.20 1/4, up 20 1/2 cents,
Nearby Cash is at $10.58 1/2, up 22 1/4 cents,
Jan 26 Soybeans are at $11.34, up 18 3/4 cents,
Mar 26 Soybeans are at $11.40 1/4, up 16 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
