Soy Market Red for Midday

Front month soybeans are down double digits with 18 to 26 1/2 cent losses so far for Monday. Meal prices are $3.30 to $4.10 in the red so far. BO prices are down by triple digits through midday with 2.3% to 2.35% losses. They had been sharply higher last week. 

Malaysian Palm Prices  were down 0.85% on Monday after printing new highs. Canadian Canola Prices are sharply lower through midday with a 3% drop, as are European Rapeseed Futures  with a 4% drop. 

USDA reported a soybean sale to China this morning under the daily reporting system. Of the 132k MT booked, half is for old crop and the other 66k MT is for new crop delivery, basically one vessel of each. Weekly Export Inspections data showed 1.3 MMT of soybeans were exported during the week that ended 1/20. That was down 429k MT from the week prior and 806k MT below the same week last year. 

Mar 22 Soybeans  are at $13.90 1/4, down 24 cents,

Nearby Cash  is at $13.46, down 24 cents,

May 22 Soybeans  are at $13.98, down 25 cents,

Nov 22 Soybeans  are at $12.99, down 17 1/4 cents,

New Crop Cash  is at $12.40 3/4, down 17 7/8 cents,