Soybean futures are currently2 to 2 cents lower to start the week. They settled the Friday session mostly 2 cents higher. December meal was up $2.70/ton, with nearby bean oil down 33 points. The USDA raised the average farm price range for soybeans 10 cents to $8.45 - $10.15, with the midpoint @ $9.30. Soybean export commitments are lagging last year by 12.9%. AgRural estimates that 57% of the Brazilian soybean crop has been planted, but still slower than last year. Abiove expects Brazilian crushers to produce 31% more biodiesel in 2018 to meet an increased blend requirement there. In Argentina, BAGE projects that 12% of the crop is planted, progressing over last week’s 7.2%.

Market Commentary provided by:

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