Soybeans are showing losses of 1 to 2 cents so far on Tuesday. They settled the Monday session with contracts up 2 ½ to 11 cents, led by the nearbys. Preliminary open interest showed net new buying across most contracts, up 13,560 contracts cross all but the November contract, which was an exodus of 23,780 contracts. 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. 

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, currently down 1 cent

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

Jan 25 Soybeans  closed at $9.89 3/4, up 7 cents, currently down 1 1/2 cents

May 25 Soybeans  closed at $10.16, up 5 cents, currently down 1 1/4 cents