Soybean Meal Futures PricesTue, Aug 30th, 2016
Latest Brugler Soybean Meal Report
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Soybean futures are mostly down 14 to 19 cents at midday, with nearby soy meal down $5.80/ton and soy oil off about 30 points. USDA reported another 126,000 MT sale of soybeans to “unknown” this morning under the daily reporting system. There is also a Chinese buying team in country this week. They are expected to sign a big promise to buy, but a chunk of the business is already on the books. Weekly crop condition ratings from NASS had the national crop improving one point from last week on our Brugler500 Index. The Louisiana crop rating was down another 12 points week/week, and Arkansas slipped 7 points lower. The Kansas rating improved the most overall from last week, up 8 points.
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