Soybeans Futures PricesMon, Mar 10th, 2014
Latest Brugler Soybeans Report
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Soybean futures are trading 12 to 24 cents lower at midday. Export inspections were 518,504 MT stronger than last week, coming in at 1,505,206 MT this morning. The average guess for the US ending stocks number was 144 million bushels. USDA put the actual figures at 145 MB, cutting crush use while raising both export and summer imports. Weaker biodiesel use of soy oil was noted, along with weaker domestic meal use. USDA pegged Argentina figure at 54.0 MMT (unchanged from Feb) and the Brazilian figure at 88.5 MMT (1.5 MMT lower than the Feb figure of 90.0 MMT). Preliminary OI was down 4,602 contracts. There were 0 deliveries put out against the Mar 14 contract over the weekend. The oldest long is dated February 5.
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