Soybean prices dropped over the weekend, with contracts down 3 to 6 cents. The national average new crop Cash Bean price is $9.70 3/4. Soymeal futures saw a decline of $1.60 to $1.80/ton. USDA reported a private export sale of 142,500 MT of soybeans to Mexico for new crop shipment. Rain is expected across the northern Plains and Eastern Corn Belt in the next week, with 1 to 2 inches. Weekly Commitment of Traders data showed a reduction in managed money net short positions in soybean futures and options. Export Sales from Thursday were 50.809 MMT, slightly surpassing USDA export projections. Aug 25 Soybeans closed at $9.98 3/4, down 5 1/2 cents. Nearby Cash was $9.65 1/4, down 4 1/2 cents. Sep 25 Soybeans closed at $10.02, down 3 3/4 cents. Nov 25 Soybeans closed at $10.21, down 3 1/4 cents. New Crop Cash was $9.70 3/4, down 3 3/4 cents.

Read more at Yahoo Finance: Soybeans Continue Losses into the Weekend