Soybeans (P) Futures PricesMon, May 2nd, 2016
Latest Brugler Soybeans (P) Report
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Soybean futures are currently trading more than a dime higher after posting gains of 10 to 14 1/2 cents on Monday and settling just below daily highs. A sharply lower USD (-500 points) was able to provide support. US soybean planting was 8% done as of Sunday night, slightly higher than the USDA five year average of 6% for this date. March soybean crush reached 166.37 mbu per the USDA CAIR report yesterday afternoon, above the average trade estimate of 165.8 mbu. Including both crude and refined oil, soy oil stocks as of March 31 were 2.325 billion pounds, compared to the pre-report estimate of 2.314 billion pounds. YTD US export inspections are 7% smaller than this time in 2015.
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