“Except for spot soybean meal, prices were lower across the complex. Beans were down $.05-$.08, meal ranged from $1 lower to $1 higher while oil rebounded to close down only 10 points. Beans spreads were weaker, meal spreads firmed while oil spreads were mixed. Nov-26 beans pulled back to roughly the midpoint of this month’s range. Oct-26 meal was unable to penetrate yesterday’s high before pulling back while Oct-26 oil slipped to a 1-month low before recovering. Meal basis levels have spiked, particularly in the WCB, as soybean supplies have dwindled due to heavy rain delaying harvest in the region. Some crushers pulled their meal offers due to lack of supply. Crush margins rebounded $.06 to $2.43 bu.,” noted Mark Soderberg with ADM Investor Services.