Soybeans Futures PricesTue, May 24th, 2016
Latest Brugler Soybeans Report
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Soybean futures were down 14 to 15 3/4 and July meal futures gave back five bucks/ton on the day. Board crush margins remain very attractive to processors. USDA weekly soybean export inspections were just 77,372 MT this morning, vs. 302,193 MT last week. US Shipments YTD are now 135 million bushels behind year ago at this time. The USDA full year forecast calls for a 103 million bushel shortfall. Chinese imports year to date through April are up 11.4% vs. year ago at 23.3 MMT. USDA showed 56% of the US soybean crop had been planted as of Sunday which is on the lower end of the 55%-65% the trade had been looking for. The five year average for this week is 52% planted and 21% emerged. The Monday report had national emergence at 22%, up from 10 % a week ago.
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