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Soybean contracts fell by 2 to 3 ¼ cents on Tuesday, with the cmdtyView national average cash bean price dropping 3 ¾ cents to $10.54 ¾. Soymeal futures decreased by $1.30 to $3, while soy oil futures rose 29 to 35 points. There were no deliveries against December soybean meal overnight, with 123 for bean oil.
In the week of October 21, spec traders added 37,720 contracts to the long side, raising their net long to 35,329 contracts according to Commitment of Traders data. The European Commission estimates EU soybean imports from July 1 to November 30 at 4.97 million metric tons, a decrease of 0.78 million metric tons compared to the same period last year.
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