USDA Soybean Report; Soybean Futures Trading Lower

November Soybeans are trading at 965, down 15 1/4 cents/bushel. January Soybeans are trading at 968 1/4, down 16 cents/bushel. December Soymeal is trading at 310.5, down 6.0 $/ton. December Soybean Oil is trading at 32.78, down 0.59 cents/lb. The USDA reported today that U.S. soybean production for 2016 to 2017 will be 4,201 billion bushels, versus 4.060 billion bushels on the August USDA report. The agency forecast for soybean yield is 50.6 bushels/acre versus 48.9 bushels per acre on the previous report.