Soybeans are in rally mode on Monday, with contracts up 20 to 28 cents. The cmdtyView national average Cash Bean price is 28 1/4 cents higher at $10.78 1/4. Soymeal futures are back up $6.40 at midday, with Soy Oil futures 90 to 100 points higher.
This morning’s Export Inspections report showed a total of 1.176 MT (43.22 mbu) of soybeans shipped in the week of 11/13. That was 4.6% above the week prior but still 48.1% below the same week last year. Italy was the largest buyer of 199,425 MT, with 196,653 MT shipped to Mexico and 176,415 MT to Egypt. China has remained off the list. The marketing year total is now 10.109 MMT (371.46 mbu) of soybeans shipped, which is now 42.5% above the same period last year.
