Soybeans Futures PricesMon, Jan 26th, 2015
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Soybean futures closed with gains mostly near 11 cents. The hot and dry weather on pod filling soybeans in some key growing areas of Brazil generated some market talk that likely supported prices today. Export inspections this week were slightly larger than last week, but off 24.39% from the total for the same week a year ago. YTD inspections are still up 17.7% from a year ago. The Brazilian farm consulting group AgRural says the harvest is about 3% complete, but cautioned that rain is still needed in some key areas if it is going to keep its production estimate at 95 MMT next month. Many of the major growing areas of Argentina are expected to have mostly favorable conditions for their developing soybeans.
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