Soybeans Coming Back from the Holiday with Losses

Group 1 - Soybean futures experienced losses of 3 to 6 cents on Monday morning, following gains of 4 to 6 ¼ cents on Friday, with January futures up 12 ¾ cents for the short week [1] - The national average cash price for soybeans increased by 6 ½ cents to $10.65 ½, while soymeal futures declined by $1.70 to $3.60, with December down 70 cents on the day [1] - Soy oil futures saw an increase of 87 to 10 points, with December rallying 150 points during the short week [1] Group 2 - The USDA reported soybean export sales of 1.1 MMT for the week ending October 16, marking a 41.2% increase from the previous week but still 56.9% lower than the same week last year [2] - Analysts anticipate soybean sales for the week ending October 23 to range between 0.6 to 1.6 MMT, with bean meal sales expected between 50,000-500,000 MT and bean oil between 5,000 to 25,000 MT [3] - AgRural estimates that 89% of the Brazilian soybean crop has been planted as of Thursday, compared to 91% during the same period last year [3]