Soybeans Head Lower into Monday’s Close
Soybeans fell back on Monday with contracts down 7 1/4 to 8 1/4 cents across the board, as soon to expire (Thursday) November was down 5 cents on light OI. CmdtyView’s national front month Cash Bean price was down 7 3/4 cents at $9.68 3/4. Soymeal futures failed to capitalize on the upward momentum, as contracts were up 10 cents to $1.10/ton. Soy Oil futures gave back some of the recent strength, down 27 to 68 points.
The weekly Export Inspections and Crop Progress reports will be delayed to Tuesday due to Veterans Day on Monday.
Soybean planting in Brazil was tallied at 67% complete was of last Thursday, which is now 6 percentage points ahead of the same time last year. Precipitation is expected to make its way through some of the previously dry parts of Brazil in the next week.
Nov 24 Soybeans closed at $10.11 3/4, down 5 cents,
Nearby Cash was $9.68 3/4, down 7 3/4 cents,
Jan 25 Soybeans closed at $10.22 1/4, down 8 cents,
May 25 Soybeans closed at $10.48 3/4, down 8 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.