Soybeans are trading with front month losses of 8 to 9 cents and new crop down 3 to 5 cents. The cmdtyView national average Cash Bean price is down 8 1/2 cents at $11.00 3/4. Soymeal futures are up $2.10 to $3, with Soy Oil futures down 20 to 25 points. Crude oil is back up just $3.03 this morning, though more than $5 off the overnight highs following the breakdown of US/Iran negotiations this weekend.
Crop Progress will be updated later this afternoon, with analysts surveyed by Bloomberg looking for the US soybean crop to be 2% planted as of Sunday.
