Soybean Meal Futures PricesMon, Mar 30th, 2015
Latest Brugler Soybean Meal Report
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Soybean futures are trading steady to fractionally higher this morning after closing 6-7 cents lower on Friday. The weekly soybean loss was less than 4 cents. May meal had a weekly loss of only $1.60 per ton. The CFTC report on Friday night showed a spec fund net short position of almost 39,000, with little movement for the week (844 contracts net). Argentine soybean harvest is 4% completed. As you know by now, the surveys show the trade expecting USDA to show planting intentions of 85.9 million acres, up about 2.2 million from last year. Some estimates run as high as 88 million however.
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