Soybeans Futures PricesFri, Sep 30th, 2016
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Soybean futures are trading with gains from 3 3/4 to 5 cents following the quarterly Grain Stocks report published by the USDA at 11 AM CDT. The report had US soybean stocks in all positions as of Sept 1. At 197mbu; slightly tighter than the average trade guess, but up 2 mbu from the Sept. 12 estimate. The 2015 production figure was reduced, but only by about 3 mbu. November futures have a 15.5 cent trading range on the day. USDA export sales beat expectations in Thursday’s weekly report. Total commitments so far this marketing year are 26.10 MMT, well above the 20.65 MMT from a year ago. There were 150 delivery notices against October meal futures on FND, from ADM clients to three other firms. Soy oil deliveries were choked off by the rally, with only 22 contracts put out.
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