Soybean Oil (P) Futures PricesFri, Apr 29th, 2016
Latest Brugler Soybean Oil (P) Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Soybean futures closed 3 cents higher to 3/4 cents lower, with May16 beans up 34 cents on the week. Nov16 beans were up 84 1/4 cents for the month. Drier Argentinean forecasts pressured the market ahead of the weekend, but a significantly weaker USD helped the front four contracts record daily gains. Soybean harvest in Argentina is currently estimated to be 24% finished, compared to the 2015 pace for this week of 62%. US planting progress is estimated to be 9 to 10% complete as of this coming Sunday night, up from the previous five year average of 6%. The official USDA figure will be released Monday afternoon at 3 PM CDT. Per the CFTC report this afternoon, managed money increased their net long position during the week ending April 26 by 24,715 contracts.
InsideFutures Grains News