Soybean Prices Decline Amid Mixed Market Trends

Market Update: Soybeans, Soymeal, and Soy Oil React to Changing Conditions

Soybeans experienced a downturn on Monday, with contracts decreasing by 7 1/4 to 8 1/4 cents across the board. The near-expiry November contract dropped 5 cents as open interest remained light. CmdtyView reported that the national front month Cash Bean price fell by 7 3/4 cents to $9.68 3/4. In contrast, soymeal futures showed minimal gains, increasing by 10 cents to $1.10 per ton. Meanwhile, soy oil futures gave up some recent gains, with declines of 27 to 68 points.

The weekly Export Inspections and Crop Progress reports have been postponed until Tuesday due to the observance of Veterans Day on Monday.

In Brazil, soybean planting reached 67% completion as of last Thursday, marking a 6 percentage point increase compared to the same period last year. Rain is forecast to come to some of the previously dry areas of Brazil in the coming week, which could impact planting and crop conditions.

Nov 24 Soybeans closed at $10.11 3/4, down 5 cents.

Nearby Cash was $9.68 3/4, down 7 3/4 cents.

Jan 25 Soybeans closed at $10.22 1/4, down 8 cents.

May 25 Soybeans closed at $10.48 3/4, down 8 cents.

On the date of publication,
Austin Schroeder
did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.