Soybeans Futures PricesThu, May 26th, 2016
Latest Brugler Soybeans Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Soybean futures are trading 10 to 12 cents higher after gaining 22 1/4 to 30 3/4 cents on Wednesday, led by front month Jul16 beans. Preliminary OI was up 10,534 contracts, with more than 4300 in the old crop July and a gain of 2,934 in November. These are modest numbers given the scale of the price change. The soybean meal market once again recorded significant price increases, with Jul16 meal up $18.30 on the day. Preliminary OI for July meal was down -3387 contracts, indicating shorts blowing out of their position. The continuous meal chart closed at its highest price since December 9, 2014. Trade analysts believe 300,000 to 500,000 MT of soybeans were sold for 2015/16 delivery during the week ending last Thursday, and 300,000 to 500,000 MT were sold for 2016/17 delivery. Soymeal meal sales are estimated to be from 50,000 to 150,000 MT for 15/16, and from 50,000 to 125,000 MT for 16/17. Estimates for soy oil sales run from 10,000 to 40,000 MT for 15/16, and 0 to 10,000 MT for 16/17. The USDA will publish its actual figures this morning at 7:30 AM CDT.
InsideFutures Grains News