Soybeans Market Overview Interestingly, soybean basis started to drop quickly last week for nearby shipments after several weeks of a stronger old crop market. The collapse started in Argentina with exporters trying to buy demand and offers suddenly posted at 180X FOB for November shipment. Earlier this year, those offers were at 210X, and the last trade was two weeks ago at 198X FOB. Argentina’s soybean basis fell sharply because of the dramatic weakening in soymeal basis around the world in recent weeks. The latter is the result of U.S. crushers covering most global soymeal demand due to the U.S. soybeans being the cheapest by far in the world. In turn, that has taken business away from other suppliers like Argentina, Brazil and...