Latest Brugler Soybeans Report
Soybean futures are currently 4 to 9 cents lower at midday. The weekly Export Inspections report this morning showed 197,441 MT of soybeans were inspected for export for the week ending July 2. That is a 33.49% decline from the previous week, but more than double the 92,698 MT of soybeans inspected during the same period a year ago. YTD inspections are at 48.08 MMT, 12.62% larger than last year at this time. Only 94% of the US bean crop was planted by June 28. We should be close to 98% tonight, with just a little double crop remaining. Trade projections are looking for soybean conditions to be unchanged or off 1% from last week. Analysts and traders are projecting an increase to the Argentine soybean crop in the WASDE report on Friday.
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