Soybeans are down 5 to 6 cents in the front months on Tuesday morning. Futures posted losses of 8 to 11 ½ cents across most contracts on Monday. Open interest dropped 8,229 contracts on Monday. The cmdtyView national average Cash Bean price was 11 1/2 cents lower at $10.23. Soymeal futures were 20 cents to $1.30 in the red. Soy Oil futures saw 34 to 51 point losses. There were 6 deliveries against December soybean oil overnight.
Monday morning’s Export Inspections report showed a total of 1.018 MMT (37.41 mbu) of soybeans shipped in the week of 12/4. That was 41.4% below the same week last year and 10.6% above last week’s total. Mexico was the largest buyer of 132,050 MT, with 119,895 MT shipped to China and 91,171 MT to Indonesia. The marketing year total is now 12.9 MMT (473.98 mbu) of soybeans shipped, which is now 45.2% below the same period last year.
