Soy Complex Recap - 9/26/2016

September 26, 2016 10:37AM CDT

November Soybeans finished down 9 3/4 at 945 1/4, 15 off the high and 1 1/2 up from the low. January Soybeans closed down 9 1/2 at 951 1/2. This was 1 1/2 up from the low and 14 3/4 off the high.

December Soybean Oil finished down 0.21 at 33.35, 0.59 off the high and 0.12 up from the low.

December Soymeal closed down 5.2 at 297.6. This was 0.8 up from the low and 6.6 off the high.

There were 240,000 tonnes of soybeans sold to Unknown destinations this morning. The market was under pressure all day and traded as low as 943 3/4 down over 1.0%. The export inspections came in at 383,953 tonnes which were well below trade estimates of 900,000 to 1.2 million. The open forecast for the next 6 to 10 days of dry weather should increase harvest activity for the coming week. The early yields for soybeans continue to be very impressive. Weekly export inspections for soybeans came in at 383,953 tonnes. As of September 22nd, cumulative soybean export inspections for the 2016-17 marketing year have reached 4.2% of the USDA forecast versus a 5 year average of 4.2%. Inspections of 1,052,606 tonnes are needed each week to reach the USDA forecast.

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