Soy Complex Recap - 9/21/2016

September 21, 2016 10:40AM CDT

November Soybeans finished down 14 1/4 at 975 1/2, 14 3/4 off the high and 4 up from the low. January Soybeans closed down 13 3/4 at 981. This was 4 1/4 up from the low and 14 1/2 off the high.

December Soybean Oil finished down 0.43 at 33.66, 0.45 off the high and 0.04 up from the low.

December Soymeal closed down 4.5 at 308.7. This was 1.8 up from the low and 5.3 off the high.

November soybeans reversed trend after being up for four days in row. The market traded as low as 971 1/2, down 18 1/4 cents on the day. We did see a combined 364,000 tonnes sold to China, Taiwan and Unknown destinations. Basis levels have retreated at the Gulf and also in the interior as harvest is starting to pick up. Also the continuation of very impressive bean yields being reported could have caused a negative bias to the market today.

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