Soybeans Futures PricesFri, Jan 30th, 2015
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Soybean futures ended Friday mostly 7 cents lower as the bearish world fundamental outlook pressured prices. The trade was reminded of the Brazilian soybean crop again today when Safras and Mercado published their latest projection for the 2014/15 soybean crop. It was down 880,000 from their November estimate, but at 95.02 MMT it would be 8.42 MMT (or about 309.4 million bushels) larger than the record Brazilian crop produced last year. USDA is higher at 95.5 and AgroConsult is lower at 94 MMT. US soybean meal was also well into the red on Friday, settling $8 lower, but was only off $1.60 from a week earlier. March 2015 bean oil futures closed higher by 46 cents on the day after posting a new life of contract low on Thursday. According to the CFTC, managed money accounts were net short -33,021 contracts as of the Tuesday close.
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