Soybean Oil Futures PricesWed, Jul 1st, 2015
Latest Brugler Soybean Oil Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Soybean futures are 12 to 14 cents per bushel lower at midday. Nov15 beans hit a new calendar year high of $10.40 this morning before retreating, marking a 13.88% increase in price since the low on June 15. While wire services estimated fund buying of 40,000 contracts yesterday, preliminary open interest rose only 6,586 lots. USDA reported that planted acreage was 500,000 acres larger than March intentions (an all time high), but was below pre-report projections. According to Bloomberg, biodiesel production has dropped over 4% in 2015, marking the first annual production slowdown in history. The national average cash price as of Tuesday night was $10.56 1/4, up 53 3/4 cents from Monday night. September soybean futures on the Dalian exchange were down 25 cents. The CME group will raise soybean margins after the close this afternoon, up $330 to $2,200 per contract.
InsideFutures Grains News