Soybeans Futures PricesWed, Aug 24th, 2016
Latest Brugler Soybeans Report
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Soybean futures are currently down 4 to 7 cents after closing 1 to 2 1/2 cents lower on Turnaround Tuesday. NASS reported that pod set is about 4% ahead of the 5yr avg for this date. The Louisiana crop ratings dropped 13 points on our Brugler500 scale due to damage from widespread flooding, while the Michigan crop rating jumped up 15 points vs. a week ago. The states of IN, MS, OH and TN each gained at least 5 points on the Brugler500 Index vs. last week. Stats Canada expects total soybean production there to be down 6.5% this year, and canola production is forecast to be down 1.2% from 2015. The PFA tour group found a higher average number of pods per sample than last year in both NE and IN.
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