Soybeans (P) Futures PricesWed, May 27th, 2015
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Soybean futures are trading slightly higher at midday. Bean meal futures are mostly $3 to $4 higher on the session, but bean oil is off 31 cents after the big pop on Tuesday. USDA says planting progress as of Sunday night was just 6 points ahead of the 5yr average, coming in at 61%. Despite wet weather slowing the pace, 16% of the crop was planted during the past week. Minnesota is out in front with 80% planted. Missouri planting progress is well behind normal, showing just 20% this week when their 5yr avg is 43% for this week of the year. The national crop is 32% emerged, 7 points ahead of the 5yr avg pace for this date.
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