Soybeans Fall Lower into Tuesday’s Close

Market Overview - The soybean market experienced a decline, with contracts down 1 to 2 cents at the close on Tuesday [1] - The national average Cash Bean price remained steady at $9.58 1/4 [1] - Soymeal futures were stable to $1.90 higher, while Soy Oil decreased by 50 to 66 points [1] Price Discovery and Export Estimates - The average close for November soybean futures is $10.18, with just over a week and a half left for harvest price discovery for crop insurance [2] - Brazilian soybean exports for October are estimated at 7.34 million metric tons (MMT), an increase of 0.03 MMT from previous estimates [2] - The European Commission reported EU soybean imports since July 1 at 3.51 MMT as of October 19, which is 0.35 MMT lower than the previous year [2] Specific Contract Prices - November 25 Soybeans closed at $10.30 3/4, down 1 cent [2] - Nearby Cash was $9.58 1/4, unchanged [2] - January 26 Soybeans closed at $10.48 1/2, down 1 1/2 cents [2] - March 26 Soybeans closed at $10.62 3/4, down 1 1/4 cents [2]