Soybeans closed out the Monday session with contracts steady to 2 cents lower. Soymeal futures were back to lower trade at the close, down $1.30 to $2.30. Soy Oil futures were up 21 to 36 points across the board on the day,
This morning’s Export Inspections report showed a total of 768,117 MT (28.22 mbu) of soybeans shipped in the week of 10/2. That was 25.8% above the week prior but a drop of 52.8% from the same week last year. Mexico was the largest buyer of 217,5995 MT, with 181,571 MT shipped to Egypt and 115,038 MT to Pakistan. The marketing year total is now at 3.03 MMT (111.37 mbu) of soybeans shipped, which is now 14.8% below the same period last year. The lack of China purchases is starting to play a role in the seasonal spike in shipments.
