Soybeans Futures PricesWed, Jun 29th, 2016
Latest Brugler Soybeans Report
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Soybean futures settled the Wednesday session 5 3/4 to 8 1/4 cents lower on improved precipitation forecasts. As published by DTN, the 6 to 10 day forecast shows above normal rainfall is expected from North Dakota to North Carolina, and from Iowa to Ohio. Jul16 soy meal closed $4.70 higher. Trade analysts surveyed by Bloomberg predict June 1 US soybean stocks to be 0.831 billion bushels on average. Stats Canada pegged 2016/17 Canadian canola acreage at 20.02 million acres early this morning, up from their March estimate of 19.35 million acres. US export sales estimates range from 500,000 to 800,000 MT of old crop soybeans, and 600,000 to 800,000 MT of new crop. Soy meal sales during the week ending June 23 are predicted to be between 75,000 MT and 175,000 for 15/16 delivery, and between 25,000 and 100,000 MT for 16/17 delivery. Soy oil sales estimates span from 40,000 to 60,000 for 15/16, and from 0 to 10,000 MT for 16/17.
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