Soybeans Fading Back After Monday’s Rally

Soybean futures reversed course early in the week, declining 6 to 7 cents on Tuesday morning after a significant rally on Monday. The previous session had seen contract prices surge 15 to 24 cents higher as traders repositioned long positions. Open interest expanded by 3,122 contracts during Monday’s trading.
The national average cash bean price climbed 24 1/2 cents to close at $12.69 3/4. Related commodities also posted gains, with soybean meal futures advancing $5.60 to $12 across front