Soybeans are trading with Tuesday morning losses of 3 to 4 cents. Futures posted Monday losses of 7 to 15 ½ cents across most contracts, as some back months were slightly higher. Preliminary open interest was up 5,243 contracts on Monday, mostly in March and November. The cmdtyView national average Cash Bean price was 13 1/4 cents lower at $9.76 1/2. Soymeal futures were a pressure factor, down $3.10-5.40, as Soy Oil futures were up 32 to 58 points. There were 26 deliveries issued against soybeans on Friday night, with 30 for January bean oil.
Crop Production from Monday showed the NASS soybean yield at 53 bpa, which was unchanged from the November report. Acreage was slightly higher on the harvested side to 80.4 million acres. Production was just 9 mbu higher to 4.262 bbu. Quarterly Grain Stocks data showed December 1 soybean stocks at 3.29 bbu. That was 190 mbu larger vs. last year.
