Soybeans (P) Futures PricesFri, Jan 30th, 2015
Latest Brugler Soybeans (P) Report
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Soybean futures are currently steady to slightly higher with the August contract up as much as 3 3/4 after small losses on Thursday. Weekly export sales totaled 909,000 MT, including 548,900 MT in fresh bookings to China, and new-crop sales to Japan amounting to 20,800 MT. Chinese weekly buying continues to be larger than cancelations. While the EPA denied that the new rule on importing Argentine biodiesel would result in many additional imports, the soy oil market was down sharply anyway. Brazilian soybean harvest is estimated to be 6% completed. AgroConsult is projecting a 94 MMT crop, lower than the recent estimates from USDA and CONAB but still a record.
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