..well, you know the rest. Taiwan, China, and Russian buying US Soybeans http://www.radioiowa.com/2013/09/12...a-to-sign-pact-to-buy-us-corn-soybeans-audio/ http://mn.gov/governor/newsroom/pressreleasedetail.jsp?id=102-83394 http://www.bloomberg.com/news/2013-...s-dry-midwest-weather-may-boost-u-s-crop.html http://www.reuters.com/article/2013/09/16/usa-soybeans-china-idUSL2N0H81L620130916 http://farmfutures.com/story-china-flexes-muscle-soybean-market-17-102582 Yes, some of those articles are a bit dated, but they underscore the demand. Late Friday selling on the CBOT extends into Sunday evening. On Friday, it seems that traders took some weekly gains off the table, while news of dryer conditions throughout the US soybean growing area will allow harvest to progress. Of course, the USDA will announce Monday in it's weekly report that the percentage of harvested acreage increased. http://nass.usda.gov/Publications/Reports_By_Date/2013/October_2013.asp But why should that drive prices down? Supply and demand, you say. You would think increased supply would naturally drive prices down. But what hasn't been publicized enough is the amount of demand. And there is BIG demand. Private train cars waiting empty to be filled with beans already pre-bought for export. Very large export sales during October that aren't commented on by the USDA (because they were closed!). Having close ties to the ag community (particularly cash crop grain farmers), I can tell you there is a disconnect between the happy, positive, cherry-picked comments about outstanding yields you read about on certain news sources and the reality out in the fields. Some of the big ag websites and news sources will post a comment from a farmer: "I noticed 50 and 60 bpa on the yield monitor!" How many of the growers with fair-to-average crops are eager to publicly tout what their yields were/are? Seeing a certain yield on an in-cab yield monitor is deceiving as well. You drove through a few hundred feet of soil where your fertilizer drained to.. how's your average yield? I talked to an insurance adjuster who said that, basically, yes: some farmers in certain areas were surprised at nice yields in select plots. But on average, yields are normal, even leaning to lower because of the odd, acyclical weather conditions experienced throughout the growing season. Too wet here, too dry there. Too much heat at the wrong time. Crop planted late. I suppose the time-lag of news and reality is what creates a tradeable market. If everyone had complete and accurate info up-to-the-second, the market would be very tight. My two cents: Soybeans may see near-term technical downside due to traders diligently following the almighty USDA, but the fundamental basis for price support is definitely there. Oh, and there's some bad weather on the way. http://www.weather.com/video/midwest-regional-forecast-360