Soybeans are trading with Monday morning losses of 2 to 4 cents, but well off overnight lows. Futures were pressured at midday by a few more bushels on the balance sheet, but managed to pull 4 to 5 ½ cents higher into the close. November soybeans were up 13 ¾ cents on the week. Open interest was down 6,159 contracts on Friday, as 27,911 contracts were rolling out of November. The cmdtyView national average Cash Bean price was up 4 cents at $12.34. Soymeal futures were $2.30 to $8 higher in most contracts, with December up $18.10 for the week. Soy Oil futures were 10 to 14 points higher, as December was 60 points lower on the week.
The government will be closed for today due to the Columbus Day holiday, with the Export Inspections and Crop Progress reports pushed to Tuesday.
