Soybeans Futures PricesTue, Jul 26th, 2016
Latest Brugler Soybeans Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Soybean futures finished 7 1/2 to 9 3/4 cents higher on Turnaround Tuesday, with front month Aug16 beans leading the way. However, the nearby contracts closed around 9 cents below their intraday highs. There will reportedly be another 600,000 MT of state reserve soybeans offered at Chinese government auctions this week. Chinese futures prices are down nearly $1.60 per bushel since July 1. Yesterday’s USDA Crop Progress report showed week over week improvements to the IL, IN and IA soybean conditions, up 13, 4 and 8 points respectively on our Brugler500 Index. These three states produced around 35% of all US soybeans in 2015/16. The Dakotas, which accounted for nearly 11% of US soybean production in 15/16, saw conditions worsen by 14 and 25 points throughout the course of the last week. Several key states reported faster than average pod set, including IL (+6 points), IA (+17 points), and MN (+15 points).
InsideFutures Grains News