Soybeans are kicking off Friday trade with losses of 6 to 7 cents. Futures bounced off the intraday lows on Thursday, with contracts closing 7 to 9 cents lower in the nearbys and down 1 3/4 to 6 ½ cents in deferreds. Open interest suggested a rotation of ownership, up just 472 contracts. The cmdtyView national average Cash Bean price was down 10 1/2 cents at $12.29. Soymeal futures were down $1.50 to $5.00 at the close, with Soy Oil 70 to 90 points lower.
Harvest should be able to resume over the next week, with a pocket opening up for much of the US growing region in the &-day QPF from NOAA.
