Soybean Oil Futures PricesTue, Sep 23rd, 2014
Latest Brugler Soybean Oil Report
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Soybeans are currently 1 to 2 cents higher in Turnaround Tuesday trading after posting double digit losses across the board on Monday. November dropped as low as $9.31 overnight before the short covering started. October meal futures were down $4.70 and soy oil lost the equivalent of 5.5 cents per bushel. The US dollar is weaker this morning. Crop condition ratings did decline. NASS took one point from excellent and put it into the very poor category. This took the Brugler500 Index 4 points lower, in the largest single-week reduction shown this year. This is a delayed reaction to frost and freeze damage. Ratings dropped in MI, MN, MO, NE, NC, ND & SD. Export inspections since September 1 are up 36% vs. last year.
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