Soybeans Move Down

August Soybeans are trading at 1006 3/4, down 15 3/4 cents and November Soybeans are trading at 1002 1/2, down 12 cents. August Soymeal is trading at 343.2, down 3.2 and August Soybean Oil is trading at 32.25, down 0.49.

Market chatter about weather and global financial issues are making the rounds. Market talk about competition from large Southern Hemisphere supplies has led to some selling on rallies.

The weekly Planting update showed 96 percent of soybeans were planted versus 94 percent and 100 percent last year. Over the last 30 years, the lowest percent at this time was 93 percent in 1993.