Soybeans are giving all to the Thursday strength back, with midday losses of 20 to 30 cents on Friday. The cmdtyView national average Cash Bean price is down 29 3/4 cents at $12.44 ¾. Soymeal futures are down $3.20, as Soy Oil is posting 192 point loses. There was just 1 delivery issued against September soybeans overnight, with 3 for soybean meal and 134 deliveries against September bean oil. They expire on Monday.
USDA’s monthly Crop Production report showed soybean yield at 52.8 bpa, up 0.1 bpa from the August projection and compared to estimates of 52.4 bpa. Production was 16 mbu higher to 4.535 bbu, as harvested acres were also raised by 100,000 acres to 85.881 million acres.
