THE OPEN:
Nov beans: 1/2 lower Dec soyoil: 23 lower Dec meal: 1.20 higher Sep. corn: 1/4 lower Sep. wheat: 1 1/2 lower
The markets opened as called with prices leaning lower, led by soyoil futures. Inter-market spreads were prevalent, with traders buying meal (short covering) and selling soyoil. Beans leaned lower as good weather prevails. Weakness in outside markets filtered into today's trade, with stocks and commodities sharply weaker. NOAA’s long-term maps continue to show above normal temperatures, but average to above normal precipitation levels as well. SOY
The key feature in the soy complex was that lower oilshare, which took out 33.0% to trade down to 32.54% on energy weakness and lower palm oil prices. Bean in...
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