More strength was seen in soybean meal on Monday which gave support to soybeans. December soybean meal closed up $9.60 Monday, keeping crush values elevated and providing another day of support to soybean prices. Soybean inspections were again strong at 76.2 mb, and last week’s big number got bigger as an upward revision put that number at close to 107 mb. The October NOPA was revealed to be 184 mb, the second highest crush on record, compared to last year’s 185.6 mb. Wheats were mixed with December Chicago wheat up 9 1/4 cents and December Minneapolis wheat down 23 1/2 cents on profit taking. Corn was quiet and livestock were mixed.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
And, more analysis with Jesse Allen on today’s Market Talk as he is joined by Mike Minor of Professional Ag Marketing and Arlan Suderman of StoneX: