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“Prices were mixed in 2-sided trade with beans off $.06-$.07, meal was $2-$4 higher while oil was 40-50 lower. Bean and oil spreads weakened while meal spreads firmed. Both Aug-26 and Nov-26 beans held below this week’s high on early strength. Aug-26 meal traded to a 6-week high. Aug-26 oil also held below this week’s high before drifting lower. Corn and soybean prices turned lower on neutral to bearish export data and an improving weather outlook. This week’s temperature surge across the N. Plains and central Midwest is expected to last through this weekend, however is well discounted in today’s market. Next weeks forecast for below normal temperatures with normal precipitation in the north-central Midwest and much of the ECB lean bearish for prices. Above normal temperatures continue to linger across much of the WCB with below normal precipitation. Crush margins jumped $.10 to $3.12 bu. with bean oil PV falling below 53%. Markets remain sensitive to China demand interest, or lack thereof. US Gulf FOB offers holding $.05-$.20 over Brazilian offers thru Nov. despite no flash sale announcements the past 3 days. Yesterday’s NOPA data was supportive as members crushed 214.3 mil. bu. of beans in June-26, 10 mil. above expectations,” noted Mark Soderberg with ADM Investor Services.





