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Soybean prices are experiencing fractional to penny losses on Monday, with the cmdtyView national average Cash Bean price at $9.40, down 5.75 cents from Friday. Soymeal futures are up 80 to 90 cents, while Soy Oil futures have increased by 22 points.
The latest Export Inspections report for the week ending October 2 shows a total of 768,117 metric tons (28.22 million bushels) of soybeans shipped, representing a 25.8% increase from the previous week but a 52.8% decline compared to the same week last year. Mexico was the largest importer with 217,599 metric tons, followed by Egypt at 181,571 metric tons and Pakistan at 115,038 metric tons. Overall, shipments for the marketing year total 3.03 million metric tons (111.37 million bushels), which is 14.8% below last year’s levels.
As of Thursday, soybean planting in Brazil is reported at 9% completion, ahead of the 4% pace from the same week last year.
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