Soybeans Futures PricesMon, Sep 29th, 2014
Open Interest is for the previous day's trading session.
Latest Brugler Soybeans Report
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Soybeans are trading just one cent lower than yesterday after the USDA published its official figure for 2013/14 ending stocks, and updated the total production estimate from the previous year. Average pre-report expectations had been in the 126mbu to 131mbu area, and the official domestic stocks in all positions as of September 1 came in much lower at 92 mbu. That took the market from trading more than a dime lower, to nearly UNCH at midday. Production from last year was increased 69 mbu to account for the negative residual use. The adjusted larger crop size for last year, combined with the forecasted record crop coming out of the fields this year, dampens the bullishness in the tightest ending stocks since 1972. The weekly Crop Progress report showed 10% of the crop is harvested, vs. the 5yr average of 17%. The overall crop condition reversed a decline from the previous week in the Brugler500 index and now matches 1992 for this date but is still below 1994.
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