Soybeans Futures PricesThu, Oct 20th, 2016
Latest Brugler Soybeans Report
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Soybean futures are mostly around 3 cents lower at midday. Open interest data shows a lot of money rolling out of November and into the January contract ahead of options expiration on Friday. USDA's weekly export sales report showed 2.008 MMT (73.82 mbu) sold in the week ending 10/13. Traders had been looking for 1.0 to 1.3 MMT of soybeans, 150,000 to 300,000 MT of bean meal, and 10,000 to 20,000 MT of new soybean oil bookings for the 2016/17 marketing year. Meal sales were a strong 398,000 MT, but soy oil bookings were only 300 MT because of a 4,100 reduction for Guatemala.
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