Soybeans closed Monday with losses of 5 to 13 ¾ cents easing lower into the close. The cmdtyView national average Cash Bean price was down 13 1/2 cents at $10.95 3/4. Soymeal futures were up a dime to $1.60 lower on the day, with Soy Oil futures down 58 to 75 points. Crude oil was up just $1.42 on the day, coming well off the highs, following the breakdown of US/Iran negotiations this weekend. Pressure came later in the session after President Trump stated Iran was wanting to make a deal.
Crop Progress from Monday afternoon pegged the US soybean crop at 6% planted as of Sunday. That is well above the 2% compared to the same date last year and the 5-year average.
