Soybeans Futures PricesThu, Jul 30th, 2015
Latest Brugler Soybeans Report
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Soybean futures are trading 4 to 9 cents higher, regaining bits and pieces of what was lost on Monday. USDA reported new crop sales for the week ending July 23 were 899,100 MT, with China stepping in to buy 405,400 MT. Old crop sales were 416,700 MT, with 300,000 MT of 14/15 beans booked for China. The old and new crop total was larger than the high end of industry estimates ahead of the report, and more than tripled the sales for the week ending July 16. Meal bookings were within expectations at 151,800 MT, nearly 53% of the total was for the 15/16 marketing year. We continue to see progress in shipping the overhang of old crop meal commitments. Bean oil bookings were a new high for this marketing year at 74,800 MT, mostly to Venezuela. In the daily reporting system, USDA indicated a new crop soybean sale to unknown destinations of 140,000 MT.
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