Soybeans saw midday weakness, trading down 6 to 8 cents on Monday. The national average Cash Bean price is $10.41 1/4. Soymeal futures are down $5.50 to $6.30, while Soy Oil futures are up 100 to 107 points. USDA reported a private export sale of 264,000 MT of soybeans to China. Export Inspections report showed 1.136 MMT of soybeans shipped in the week of 2/5, with China as the largest destination. Monthly WASDE data is set to be released with no major changes expected to US soybean stocks number.

Commitment of Traders data showed an increase in managed money soybean futures and options net long position. AgRural estimates Brazil soybean crop at 16% harvested. Mar 26 Soybeans are at $11.07 1/2, down 7 3/4 cents. Nearby Cash is at $10.41 1/4, down 7 1/2 cents. May 26 Soybeans are at $11.21 1/4, down 7 1/2 cents. Jul 26 Soybeans are at $11.32 3/4, down 6 3/4 cents.

Read more at Yahoo Finance: Soybeans Falling Back on Monday, Despite Export Business