Soybeans Futures PricesWed, Oct 1st, 2014
Latest Brugler Soybeans Report
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Soybeans are currently trading steady to around 3 cents higher on the session. New crop beans tried to rally yesterday on official data showing extremely tight old crop stocks, but the yield reports coming from the combines took the price back down. The market is past that supply crisis and attention is now focused on the Oct 10 production report. The hike to 44 bpa for last years yield is reinforcing ideas that this year is 48 or higher given better growing conditions in 2014. Prices are seeing some support today with the frost/freeze risk areas expanding into parts of MN and the Dakotas for Saturday morning on the most aggressive models. Meal and oil are also in the green at midday. There were zero deliveries vs. October meal futures, and only 259 vs. October bean oil.
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