Latest Brugler Soybeans Report
Soybeans futures were down 13 to 20.25 cents, but both the front four months ended the day more than a nickel off the lows of the day. The later months came back even stronger. Soybean meal took a hit today, with the front month closing down $5.20 after being down as much as $8.60. The January contract knocked off $8.80 on the day. Soybean oil lost 40 points. The Dec 13 soybean meal and soybean oil contracts expire on Friday. Soybean export sales reported this morning were above the high end of the range of pre-report guesses at 1,108,600 MT. Total commitments for the year are now at 96% of the USDA forecast for the year. Export sales reported for soybean meal were below trade expectations, and soybean oil exports were only 2,300 MT.
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