Soybeans are trading with contracts down just 1 to 2 cents early on Monday. There were 20 deliveries against the expiring September contract on Friday, with the monthly total at 1,034 contracts. The cmdtyView national average Cash Bean price is down 1 3/4 cents at $9.68 1/2. Soymeal futures are down $2.50 to $2.60, with Soy Oil futures showing 13 to 15 point gains. The CME reported another 3 September soybean meal deliveries issued on Friday, taking the month’s total to 245, with 161 reported for bean oil, which took the monthly total to 1,293 deliveries.
NOPA data from this morning showed a massive 189.81 mbu of soybeans crushed during August, more than 7 mbu above estimates. That was a 3.01% drop from July but still 20.13% larger than last year and 12.93% above the previous August record. Soybean oil stocks at the end of the month were 1.245 billion lbs, which was up 9.39% from last year but down 9.7% from July.
