Soybeans Futures PricesTue, May 24th, 2016
Latest Brugler Soybeans Report
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Soybean futures ended the day with July down 3 3/4 cents, and November down 7 cents. The soy complex was volatile today. Most contracts traded on both sides of even money; the range for July beans was more than 25 cents, and July meal had a trading range of $14 before finishing $1.20/ton higher. A Reuters report shows soybean acreage in India is expected to drop by 10% this year due to falling prices. USDA says state by state plantings are ahead of schedule in Iowa, Minnesota, and Missouri, but are behind the respective average paces in Illinois, Indiana, Nebraska and Ohio. Private exporters reported to the USDA that 140,000 MT of US soybeans were sold to unknown destinations this morning for 2016/17 delivery. This is the second major soybean sale in as many days to unknown destinations.
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