Soybean Oil (P) Futures PricesThu, May 26th, 2016
Latest Brugler Soybean Oil (P) Report
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Soybean futures are also trading on both sides of the fence this morning with the July contract posting a trading range of 25 cents thus far on the session. July bean meal futures have been as high as $419.80 and as low as $402.40 today. Weekly USDA export sales data released at 7:30 AM CDT was not as bullish as the published trade estimates. The trade was looking for soybean export bookings of 300,000 to 500,000 MT from old and new crop (each), but the combined total was only for 606,800 MT. Bean meal sales were 169,500 MT for 15/16 (+23% vs. 4wk avg), but only 17,600 MT for 16/17. Expectations for meal ran between 50,000 and 150,000 MT for 15/16, and from 50,000 to 125,000 MT for 16/17.
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