Soybeans (P) Futures PricesFri, Jul 22nd, 2016
Latest Brugler Soybeans (P) Report
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Soybean futures are trading close to UNCH in the nearby contracts this morning, after incurring sharp losses on Friday. The back months are 3-5 cents lower. Aug16 beans were down 66 cents last week. Aug16 meal and oil were down $22.70 and $0.68 on the week respectively. Managed money held a net long CFTC position of 137,692 contracts as of the close on July 19. This was a week over week reduction to the net long position of 21,715 contracts. Chinese auctions sold 332,039 MT of 2012 reserve soybean stocks on Friday, only 57% of the total stocks offered. The Argentinean trucker strike has been resolved. The 2015/16 Argentinean soybean production was estimated to be 58.8 MMT by the local Ag Ministry, up 0.8 MMT from its previous estimate, and larger than the 56.5 MMT estimate released by the USDA.
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