Soybeans (P) Futures PricesTue, Jun 30th, 2015
Latest Brugler Soybeans (P) Report
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Soybean futures are currently trading 2 to 5 cents lower after gains of more than 50 cents per bushel on Tuesday. While wire services estimated fund buying of 40,000 contracts yesterday, preliminary open interest rose only 6,586 lots. USDA reported US Soybean stocks as of June 1 were 625 mbu; about 6.7% below the average pre-report trade estimate of 670 mbu. On farm stocks were up 126% year/year, but off farm stocks were only up 28% from a year earlier. Planted acreage was a record high 85.14 million acres; below trade expectations, but still about 500,000 more than the March intentions report. AR, KS, MO will be resurveyed for planted acreage, with the updated results scheduled to be made available in the August crop report.
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