Soybeans Futures PricesFri, Apr 17th, 2015
Latest Brugler Soybeans Report
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Soybean futures ended the session steady to slightly higher, and May futures were able to pick up more than 19 cents on the week. USDA weekly export sales reported for old crop were solid, but new crop sales were below expectations. US soybean export commitments YTD are still at 100% of year ago, ahead of the 97% average pace. Meal commitments are at 85% vs. 84% average. The story in meal is that unshipped business is 198% of last year at 3.009 MMT. Argentina Ministry of Agriculture reported 33% of the crop is harvested vs 22% at this time last year. Celeres issued its Brazilian bean crop production estimate at 93.9 MMT. The weekly COT report from the CFTC showed managed money accounts increasing their net short position by more than 33K contracts, to show their net position as of Tuesday at -81,716 contracts. The net position reported for the commercials was net long 5,113 contracts.
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