Soybeans are trading with contracts 3 to 5 cents lower so far on Tuesday. The cmdtyView national average Cash Bean price is down 3 3/4 cents at $12.23 1/2. Soymeal futures are $1.60 to $4.40 lower, with Soy Oil futures down 40 to 65 points. There was 51 deliveries against October soybean oil overnight. October expires on Wednesday.
The Tuesday Export Inspections report showed soybean shipments of 1.097 MMT (40.29 mbu) in the week of 10/8. That was up 7.8% from the same week last year but down 8.6% from the week prior. China was the largest destination of 649,252 MT, with 99,756 MT shipped to Mexico and 79,022 MT to Egypt. Shipments for the marketing year are now at 5.144 MMT (189.04 mbu) of soybeans, which is now 26.6% ahead the same period last year.
