Soybeans are down 5 to 7 cents at Monday’s midday, more than 35 cents off the overnight highs. Open interest was up 16,951 contracts on Friday. The cmdtyView national average Cash Bean price is down 6 1/4 cents at $11.20 1/2. Soymeal futures are down $3 to $3.70, with Soy Oil futures down 17 to 34. Crude oil is up just $3.97 at midday and nearly $25 from the overnight highs.
US soybean ending stocks are estimated to be trimmed by 6 mbu to 344 mbu in Tuesday’s WASDE.
