Soybeans Futures PricesWed, Jun 29th, 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 at midday are trading 5 1/2 to 9 1/4 cents lower on improved precipitation forecasts. A 6 to 10 day precipitation forecast published by DTN shows above normal rainfall is expected in a wide tract from North Dakota to Georgia, and from central Nebraska to central Ohio. Soy meal is trading higher for the third consecutive day, with Jul16 meal currently up $4.60. Stats Canada this morning pegged its latest 2016/17 Canadian canola acreage estimate at 20.02 million acres, up from the group’s March estimate of 19.35 million acres, but down 75,000 acres from 2015/16. On average, trade analysts surveyed by Bloomberg predict June 1 US soybean stocks to be 0.831 billion bushels. If that stands in tomorrow’s quarterly report, it would be 32.5% larger than June 1, 2015.
InsideFutures Grains News