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Soybean futures settled with losses from 8 3/4 cents to 9 3/4 cents to start the week. Pressure comes from a steady flow of impressive yield reports as well as further weakness in meal, with Sept down $5.70, and oil off 11 points. Weekly export inspections for soybeans were 383,953 MT in this week’s report. That figure is only about half of the amount reported a week earlier, and down about 30% from the same week a year ago. On Monday afternoon, NASS reported 68% of the national crop is dropping leaves; 4 points ahead of the five year average. The harvest is 10% complete vs. the 5yr avg for this date of 13% complete.
Nov 16 Soybeans settled at $9.45 1/4, down 9 3/4 cents,
Jan 17 Soybeans settled at $9.51 1/2, down 9 1/2 cents,
Mar 17 Soybeans settled at $9.57 1/4, down 9 1/4 cents,
May 17 Soybeans settled at $9.63, down 8 3/4 cents,
Oct 16 Soybean Meal settled at $297.60, down $5.70,