Soybean Oil Futures PricesMon, Sep 26th, 2016
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 trading 1 3/4 cents to 2 cents lower this morning. November futures were down 11 cents from Friday to Friday. Pressure came from weakness in both meal and oil, as well as some reports of impressive yields on early bean fields. The Chinese decision to add a 33.8% import duty to US DDGS will likely create some pricing pressure on domestic soybean meal in the near term as the chairs get shuffled. No change in Chinese soybean meal imports is anticipated. The weekly Commitment of Traders Report from the CFTC showed managed money accounts increasing their net long position by a net 11,444 contracts during the week ending Tuesday 9/20. Flooding in southern MN and northern IA is interfering with drop dry down and harvest. Some bushels will likely be lost, but duration and extent of the flooding are the key variables.
InsideFutures Grains News