Soybeans are trading with losses of 3 to 5 cents on Tuesday morning. Futures pulled off early sharp losses on Monday, with contracts fractionally to 4 ¼ cents higher and nearly a dime off the lows. Open interest was down 6,412 contracts, with 17,064 MT rolling out of November. The cmdtyView national average Cash Bean price was down 6 3/4 cents at $12.27 1/4. Soymeal futures were 40 cents to $6.90 higher, with Soy Oil futures up 42 to 61 points. There was 51 deliveries against October soybean oil overnight. October expires on Wednesday. The harvest price for Crop Insurance is discovered during October, with the average November soybean close so far at $12.89.
The harvest window is open for another couple days, though some rains are expected by Thursday in parts of the Southern Plains through MO, southern IA, IL, IN and OH, with other parts of the Corn Belt getting lighter totals.
