Soybeans Mostly 3 Cents Lower This Morning

Soybeans futures are trading 3 cents per bushel lower after ending Monday 1/4 to 1 cent lower in the nearby contracts. Soybean meal was also lower, down $1.40 to $297.40/ton. Soy oil was up 22. The USDA weekly crop progress report showed that the 18 states have 72% of the soybean crop dropping leaves, 15% behind normal. NASS also reported the crop was 14% harvested, well shy of the 34% average. Condition ratings slipped 2% to 53% gd/ex, as the Brugler500 dropped 6 points to 342. That is the lowest rating this year and at a 7-year low for week 40. Soybean export inspections were 1.039 MMT for the week ending 10/03. That is a 5.1% increase from last week and is 41.4% more than the same week last year.

-- provided by Brugler Marketing & Management

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