Soybeans Futures PricesThu, Nov 20th, 2014
Latest Brugler Soybeans Report
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Soybean futures are currently trading 7 to 14 cents higher. Trade expectations for weekly soybean export sales ran from 600,000 MT to 1.12 MMT, with ideas that soybean meal sales could be net negative due to origin switches. USDA reported net soybean sales for the week ending November 13 totaled 483,000 MT, the slowest of the marketing year. However, soybean meal net sales were 265,700 MT, a far cry from net negative. ABIOVE is projecting Brazilian production at 91 MMT, which is above the previous CONAB estimate but still below the 94 MMT USDA figure from its November WASDE report.
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