Soybean Oil Futures PricesThu, Sep 29th, 2016
Open Interest is for the previous day's trading session.
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Soybean futures ended Thursday trade with most contracts about 4 cents higher, but 6 or 7 cents below session highs. Bean oil futures were higher, but meal futures were slightly lower. Weekly export sales figures published by USDA this morning were 1.76 MMT; higher than the range of published expectations from the trade. Meal was 88,800 MT and soy oil was only 3,400 MT. Both meal and oil sales were within trade expectations, but towards the lower end. Private exporters reported another 120,000 MT booked for delivery to China. Most traders are squaring up for the quarterly Grain Stocks report tomorrow morning at 11AM CDT. The average pre-report trade guess is expecting a 5 mbu increase from the ending stocks estimate in the September 12 crop reports.
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