Beans Down Double Digits

Through the midweek midday, soybean prices are down by 18 3/4 to 28 1/4 cents continuing the post WASDE fade. November is still a net 46 cents higher for the week. Meal prices are down $1 to $1.80 so far. BO futures are fading by triple digits through midday.

Trader estimates ahead of the NOPA data expect members processed 166.1 mbu of soybeans during August. 

StatsCan reported their soybean production as 6.505 MMT in the September release. That was up from 6.38 MMT estimated in August and was at the top end of estimates. Canola output is seen as 19.1 MMT – compared to 19.5 MMT last month and 19.9 MMT expected. 

Sep 22 Soybeans  closed at $15.06, down 28 1/4 cents,

Nearby Cash   was $14.19 3/8, down 21 cents,

Nov 22 Soybeans  closed at $14.56 1/2, down 22 1/4 cents,

Jan 23 Soybeans  closed at $14.62, down 22 cents,