Soybean Oil (P) Futures PricesMon, Aug 29th, 2016
Latest Brugler Soybean Oil (P) Report
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Soybean futures are trading steady to fractionally lower this morning after posting losses of 7 1/2 cents for September, but only 3 cents for the Nov16 and Jan17 contracts on Monday. Private exporters reported to the USDA an export sale of 393,000 MT of soybeans to unknown destinations, but that failed to lift the market. The market wants to see more sales to offset rising production estimates. Weekly crop condition ratings from NASS had the national crop improving one point from last week on our Brugler500 Index. Approximately 94% of the crop is setting pods, a couple points ahead of the 5yr average for this week. The crop is on par with the five year average for this date as far as dropping leaves; reported at 5% as of Sunday.
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