Soybean futures trading left the front months 1 1/4 to 5 3/4 cents lower. November was the weakest. CME reported another 501 deliveries against Nov beans, mostly by CHS Hedging and ADM clients. The average October close for the Harvest Price option for crop insurance was $10.55/bu. That is the highest since 2013. Soy products also closed lower. Meal was down 0.28% to 0.92%, and BO futures were 1.05% to 1.25% weaker. USDA’s Fats and Oils report showed September’s bean crush was 171.03 mbu. That was in line with estimates and the largest September crush on record. Implied yields were lower, with 11.5 lbs of oil/bu and 43.9 lbs of meal/bu. Bean oil stocks were 1.503b lbs. The weekly Crop Progress update showed bean harvest was 87% complete, still running 4% ahead of average pace. Export Inspections data showed 2.083 MMT of soybeans were shipped on the week ending 10/29. That was down from 2.82 MMT LW. China was the top destination, with 72% of the total.

--- provided by Brugler Marketing & Management