Soybeans rallying back on Monday, as risk is being put back on after the weekend with gains of 21 to 23 1/4 cents. The cmdtyView national average Cash Bean price is up 23 1/4 cents at $12.68 1/4. Soymeal futures are rallying $8 to $10, with Soy Oil up 50 to 60 points.
The weekly Export Inspections report showed soybean shipments of just 759,193 MT (27.9 mbu) in the week of 9/17. That was up 11.6% from the week prior and 34.2% ahead of the same week last year. China was the largest destination of 446,789 MT, with 68,773 MT shipped to Mexico and 59,652 MT to the Netherlands. Shipments for the marketing year are now at 36.848 MMT (1.354 bbu) of soybeans, which is now 1.8% ahead the same period last year.
