“`html
On October 30, U.S. soybean export inspections reported shipments of 965,063 metric tons (35.46 million bushels), a 16.8% decrease from the previous week and a 58.3% decline compared to the same week last year. The top destinations included Egypt (234,353 MT), Italy (138,647 MT), and Mexico (133,192 MT). Cumulative marketing year shipments stand at 7.78 million metric tons (285.88 million bushels), reflecting a 40% year-over-year decline.
Soybean yields in the U.S. are estimated at 53.6 bushels per acre (bpa) according to StoneX, a drop of 0.3 bpa from the previous month. The USDA is scheduled to release updated data next Friday. Meanwhile, AgRural reported that Brazil’s soybean crop is 47% planted, lagging behind last year’s pace of 54%.
As of October 30, nearby cash soybeans increased by 21 cents, closing at $10.56 1/4. Front month soybeans also showed gains, with November contracts closing at $11.19 3/4 (up 20 cents) and January contracts at $11.34 1/4 (up 19 cents).
“`
