Soybeans Slip Lower on Monday

Soybeans pulled off early sharp losses on Monday, with contracts fractionally to 4 ¼ cents higher and nearly a dime off the lows. The cmdtyView national average Cash Bean price was down 6 3/4 cents at $12.27 1/4. Soymeal futures were 40 cents to $6.90 higher, with Soy Oil futures up 42 to 61 points.

The harvest price for Crop Insurance is discovered during October, with the average November soybean close so far at $12.89.

The harvest window is open for another couple days, though some rains are expected by Thursday in parts of the Southern Plains through MO, southern IA, IL, IN and OH, with other parts of the Corn Belt getting lighter totals.

The government was closed today due to the Columbus Day Holiday, with the Export Inspections and Crop Progress reports pushed to Tuesday. . 

Nov 26 Soybeans  closed at $12.87 3/4, down 4 1/4 cents,

Nearby Cash  was $12.27 1/4, down 6 3/4 cents,

Jan 27 Soybeans  closed at $13.04 3/4, down 4 cents,

Mar 27 Soybeans  closed at $13.14 1/2, down 4 1/4 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.