Soybeans (P) Futures PricesTue, May 24th, 2016
Latest Brugler Soybeans (P) Report
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Soybean futures are currently 17 to 28 cents higher, boosted by sharp gains in soybean meal. Jul16 meal is up $17.70. The USD is around 100 points lower at midday, providing slight support to the ag markets. The national average basis (front month futures minus the DTN national average cash soybean price) is 3 1/4 cents stronger than it was on the first day that July was the lead contract. The national average cash price is nearly a dollar higher than it was a year ago. Farmers in Mato Grosso have purchased 55% of their inputs for their 2016/17 soybean crop, per the Mato Grosso Institute of Agricultural Economics.
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