Soybeans Futures PricesWed, Sep 17th, 2014
Latest Brugler Soybeans Report
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Soybean futures are a couple cents higher this morning after closing between 6 and 9 cents lower on Tuesday. Firmness is more apparent in the late 2015 contracts. Chinese buyers have signed contracts to purchase 4.8 MMT of soybeans (176 million bushels). The dollar commitment is similar to last year, but the bushels are up due to lower prices this year. Expect some large reports under the USDA daily system in coming days, reflecting this business. FSA acreage data pegs planted bean acres enrolled in the farm program at 80.76 million, up from 79.2 million last month but 4.07 million below the NASS June estimate. Prevent plant acres total 841,000 vs. 827,000 in August. Additional acres will be found in the October version of the FSA report, but the trade is now looking for some kind of planted acreage reduction in October.
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