Soybeans are posting fractional to penny losses across most contracts on Monday. The cmdtyView national average Cash Bean price was 5 3/4 cents lower on Friday at $9.40. Soymeal futures are 80 to 90 cents higher so far at midday, with Soy Oil futures are up 22 points in the front months.
This morning’s Export Inspections report showed a total of 768,117 MT (28.22 mbu) of soybeans shipped in the week of 10/2. That was 25.8% above the week prior but a drop of 52.8% from the same week last year. Mexico was the largest buyer of 217,5995 MT, with 181,571 MT shipped to Egypt and 115,038 MT to Pakistan. The marketing year total is now at 3.03 MMT (111.37 mbu) of soybeans shipped, which is now 14.8% below the same period last year. The lack of China purchases is starting to play a role in the seasonal spike in shipments.
Soybean planting in Brazil was 9% planted as of Thursday according to AgRural, ahead of the 4% planting pace from the same week last year.
Nov 25 Soybeans are at $10.17, down 1 cent,
Nearby Cash was at $9.40, down 5 3/4 cents,
Jan 26 Soybeans are at $10.36, down 1 cent,
Mar 26 Soybeans are at $10.51 1/2, down 3/4 cent,
