Soybeans mini-siz(P) Futures PricesFriday, May 24th, 2013
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Latest Brugler Soybeans mini-siz(P) Report
Soybean futures are currently 3 to 22 cents lower, following a wild Thursday with additional volatility in the July contract. That was bullish as it included unexpected old crop business. US export commitments have now reached 100% of the USDA forecast for the year, which ends August 31. They would typically be at 99% by now. Basis bids have backed off as much as 80 cents per bushel from last week’s peak, with some central IL bids still +65. The national average cash price hit the highest level since November on Monday, but backed off 8 cents on Wednesday despite the flat futures market.
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