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Soybean futures settled 1 to 5 cents higher on Monday. The USDA Crop Progress report has the soybean condition as of August 30 at 364 on the Brugler500 Index, up 1 point from last week. The USDA reports that 93% of the soybean crop in 18 states is setting pods, down from the five year average of 95%. The weekly report shows that 9% of the crop is dropping leaves, slightly ahead of the five year average maturity of 7%. The USDA Export Inspections report this morning showed 184,285 MT of soybeans, 12% smaller than the week before. YTD inspections are 6.4 MMT (235 million bushels) ahead of last year. USDA reports that 125,000 MT of US soybeans were sold to unknown destinations early this morning, booked for 2015/16 delivery.
Sep 15 Soybeans closed at $8.97 1/2, up 4 1/4 cents,
Nov 15 Soybeans closed at $8.87 1/2, up 2 cents,
Jan 16 Soybeans closed at $8.92 1/4, up 1 1/2 cents,
Mar 16 Soybeans closed at $8.93 3/4, up 1 1/2 cents,
Sep 15 Soybean Meal closed at $320.90, down $0.50,