Soybean Oil (P) Futures PricesThu, Oct 27th, 2016
Latest Brugler Soybean Oil (P) Report
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Soybean futures were up another 2 to 4 1/4 cents, with Nov16 up the most. Dec16 bean meal was up another $8.50 on the Thursday session, however Dec16 bean oil futures logged their third losing session in a row. USDA's weekly export sales report featured another week of sales larger than 2 MMT, and shipments were up 5% week/week and a new high for the marketing year at 2.808 MMT. Bean meal sales were down significantly from the previous week, and fell short of pre-report expectations. Bean oil sales for the week ending 10/20/16 were 24,500 MT. Shipments were slightly less than that. Private exporters reported a soybean sale of 129,000 MT for delivery to unknown destinations, and another 396,000 MT sold to China, all for delivery during the current marketing year.
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