Soybeans Futures PricesWed, Apr 16th, 2014
Latest Brugler Soybeans Report
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Soybean futures closed higher on the day, notching gains between 12 and 25 cents. The May 14 contract displayed the most strength and finished at $15.01. The May 14 meal contract also displayed impressive gains, up $8.30 at $487.40. NOPA crush for March was 153.40 million bushels, about 7 million above the average trade guess. Use is not slowing down. Soy oil stocks were estimated ahead of the report to be 1.92 billion pounds. The actual figure was reported at a more bearish 2.023billion pounds. Biodiesel use has slowed significantly since the loss of the blend credit in December. Brazilian harvest is now thought to be 86% complete, with 60% of the crop believed to be sold by the producers.
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