
Soybeans rallied for 22 to 25 ½ cent gains across most contracts on Monday following better trade news from the weekend. The cmdtyView national average Cash Bean price was 25 3/4 cents higher at $9.99 1/2. Soymeal futures were up $4.10 to $6.70, with Soy Oil futures 29 to 54 points higher.
This morning’s Export Inspections report showed a total of 1.061 MMT (38.99 mbu) of soybeans shipped in the week of 10/26. That was 33.3% below the week prior and down 59.7% from the same week last year. Mexico was the largest buyer of 155,418 MT, with 147,560 MT shipped to Egypt and 127,559 MT to Italy. The marketing year total is now 6.715 MMT (246.74mbu) of soybeans shipped, which is now 36.9% below the same period last year. China has remained out of the market.