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Soybean futures are currently steady to 2 cents higher and about 4 cents off the lows of the session.As we said yesterday, “Expect some large reports under the USDA daily system in coming days” reflecting the newly signed Chinese business. USDA announced 620,000 MT of new crop bean sales to China under the daily reporting system. 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. Satellite firm Lanworth raised their projected US soy yield to 47 bushels per acre, but trimmed expected harvested acres to 82.4 million.
Nov 14 Soybeans are at $9.81 3/4, up 1 cent,
Jan 15 Soybeans are at $9.90, up 3/4 cent,
Mar 15 Soybeans are at $9.98, up 1 cent,
May 15 Soybeans are at $10.05 1/2, up 1 3/4 cents,