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Soybean futures are currently 13 to 20 cents higher, with Nov15 beans over $9.00 for the first time since Sept 30. USDA reported 1.832 MMT worth of soybeans was inspected during the week ending 10/8. Weekly inspections were up 58% from the week before, and YTD inspections are 12% larger than they were in 2014 at this time despite slow sales to China. The USDA reports under the daily reporting system that 240,000 MT of US soybeans were sold to China for 15/16 delivery this morning. China imported 7.26 MMT of soybeans during September, compared to 7.7 MMT in August and only 5.0 MMT in September 2014. Average estimates for the Crop Progress report are that 61% of the US soybean crop will be harvested, up from 42% a week ago.
Nov 15 Soybeans are at $9.07, up 19 1/2 cents,
Jan 16 Soybeans are at $9.11 1/4, up 18 3/4 cents,