Soy Closes Firm
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Bean prices pulled back some in the afternoon and ended the session fractionally to 3 3/4 cents higher. Meal futures were UNCH to $1.30 higher at the bell – with Dec closing $317.90/ton. BO prices gained 54 to 73 points in the front months after another strong showing by palm oil. 

NASS reported after the close that 95% of beans had dropped leaves as of 10/17 – matching the average. Harvest had progressed 11% points to 60% complete, and is now 5% points ahead of the average pace. 

Soybean shipments during the week that ended 10/14, were 2.298 MMT. That was up from 1.74 MMT last week, and a marketing year high, but was still 1.6% lighter yr/yr. Beans were mainly shipped out of the PNW last week, and mainly to China – with PNW exports making up 46.5% of the total and China 74% of the total. Accumulated soybean exports now trail last season’s pace by 50.6% with 215.8 mbu shipped so far. 

Ag Rural reported Brazil’s soybeans were 22% planted as of 10/14. That is the 2nd fastest pace on record and a departure from last year’s delays and dryness issues. 

Nov 21 Soybeans  closed at $12.21 1/2, up 3 3/4 cents,

Nearby Cash  was $11.80 1/2, up 4 3/4 cents,

Jan 22 Soybeans  closed at $12.29, up 2 3/4 cents,

Mar 22 Soybeans  closed at $12.37 1/4, up 2 cents,




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