Soybeans are trading with 8 to 10 cents higher in the front months on Monday. The cmdtyView national average Cash Bean price was up 8 1/2 cents at $12.46. Soymeal futures are $3.50 to $3.80 at midday, with Soy Oil 45 to 55 points lower across the board. There was just 1 delivery issued against September soybeans, with 1 for soybean meal and 2 deliveries against September bean oil. They expire today.
USDA’s FGIS tallied soybean export shipments at 672,75 MT (24.72 mbu) during the week ending on September 10. That was 44.8% above the week prior and 18.2% lower than the same week last year. China was the top destination of 328,245 MT, with 74,200 MT headed to Indonesia and 65,070 MT to Japan. Marketing year shipments are 914,826 MT (33.61 mbu) for the first week and a half of the MY and 15.8% below the same time last year.
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