Soybean Meal Futures PricesTue, Nov 25th, 2014
Latest Brugler Soybean Meal Report
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Soybean futures are trading higher at midday, with strong support coming from the meal and oil markets. The domestic crushers need beans to make meal for export and the export market for whole beans has been strong at this price level too. Weekly export inspections from USDA were above 100 million bushels again this week. About 97% of the US crop is harvested. Illinois finished its last 5% this past week. Preliminary open interest data for Monday shows a drop of 1,474 contracts, confirming some long liquidation tendencies.
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