Soybeans Futures PricesTue, May 24th, 2016
Latest Brugler Soybeans Report
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Soybean futures are currently trading 1 to 8 1/2 cents higher, after being 12 to 14 cents lower this morning. A Reuters report shows soybean acreage in India is expected to drop by 10% this year due to falling prices. USDA announced that 56% of the US soybean crop had been planted as of Sunday night, up 4% from the previous five year average. State by state plantings are ahead of schedule in Iowa, Minnesota, and Missouri, but are behind the respective average paces in Illinois, Indiana, Nebraska and Ohio. National emergence was pegged at 22% last night, up from 10 % from the week before. Private exporters reported to the USDA that 140,000 MT of US soybeans were sold to unknown destinations this morning for 2016/17 delivery. This is the second major soybean sale in as many days to unknown destinations.
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