Soybeans settled the Monday session with contracts up 2 ½ to 11 cents, led by the nearbys. CmdtyView’s national front month Cash Bean price is up 11 1/4 cents at $9.24 1/2. Soymeal futures were up 20 cent to $2.70/ton in the front months on the day and slightly lower in the deferreds. Soy Oil contracts were up 51 to 58 points on the session. 

Monday’s Crop Progress report showed the US soybean harvest now 81% complete as of October 20. That is well above the 67% average harvest pace over the last 5 years. 

USDA reported private export sales of 116,000 MT of soybeans to unknown destinations this morning, and also a total of 264,000 MT of soybeans to unknown during the reporting period.

Weekly Export Inspections data showed 2.43 MMT (89.42 mbu) of soybeans shipped in the week that ended on October 17. That was down 7.4% from last year, but up 27.6% from the previous week. Of that total 1.687 MMT was headed to China, as 159,130 MT was on its way to Mexico and 122,783 MT to Egypt. Marketing year shipments have totaled 7.896 MMT (290.14 mbu), which is down 2.9% from the same week last year. 

The soybean crop in Brazil was estimated at 18% planted as of last Thursday according to AgRural, that compares to the 30% pace from last year.

Nov 24 Soybeans  closed at $9.81, up 11 cents,

Nearby Cash  was $9.24 1/2, up 11 1/4 cents,

Jan 25 Soybeans  closed at $9.89 3/4, up 7 cents,

May 25 Soybeans  closed at $10.16, up 5 cents,