Soybean Meal Futures PricesTuesday, Jun 18th, 2013
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Latest Brugler Soybean Meal Report
Soybean prices are currently trading flat to a couple cents higher. The slow planting pace and a 240,000 MT new crop sale to China were supportive yesterday. With Prevent Plant dates now past, the question becomes whether producers will claim the insurance or grow the crop like they did in the old days without crop insurance. About 4.7 million acres remained to be planted in the WCB as of Sunday. There is also replanting activity with producers in several areas reporting bean seed rotting in the ground due to frequent rain and not enough heat after planting.
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