Soybeans are trading with contracts 8 to 10 cents lower on Wednesday, shrugging off the early gains and Chinese business. The cmdtyView national average Cash Bean price is down 8 3/4 cents at $12.16. Soymeal futures are $3.30 lower, with Soy Oil futures down 90 points. October futures expires today.
Rains fell in parts of the TX panhandle, KS, MO and IL overnight, putting a pause on some harvest. More rain is expected in those areas, as well as NE through IA, and northern IL/Southern WI in the next couple days, with the southern portions of the ECB seeing upwards of an inch. The 7-day forecast past Friday does look a little drier.
