Soybeans are trading with Monday AM losses of 3 to 6 cents. Futures posted gains of 4 to 6 ¼ cents across the nearby contracts on Friday, with January up 12 ¾ cents on the short week. The cmdtyView national average Cash Bean price was 6 1/2 cents higher at $10.65 ½. Soymeal futures were down $1.70 to $3.60, with December down 70 cents on the day. Soy Oil futures were 87 to 10 points higher, with December rallying 150 points on the short week. There were 147 deliveries issued against December soybean meal on Friday night, with 122 for bean oil.
USDA’s Export Sales data for the week ending on October 16 was released on Friday, with 1.1 MMT of soybean sales in that week. That was the first week to breach 1 MMT this marketing year, at 41.2% above the previous week, yet was still 56.9% below last year. China to that point had yet to make a purchase.
