Soybeans Futures PricesTue, May 5th, 2015
Latest Brugler Soybeans Report
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Soybean futures closed 4 1/2 to 10 1/2 higher, led by May. Soy oil popped 41 points on a strike at Argentine crush plants. Several different Argentine unions are either negotiating with the government or threatening to strike due to inflation estimated at more than 30%. The lack of stability makes other origins more attractive despite large and potentially cheap Argentine production. Informa today estimated Argentine bean production at 59 MMT, fading recent larger estimates by the BAX. They hiked their Brazilian number to 94.5 MMT, in line with most mainstream forecasts.
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