Soybeans (P) Futures PricesWed, Oct 22nd, 2014
Latest Brugler Soybeans (P) Report
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Soybeans are currently up more than 13 cents after posting double digit gains on Tuesday. The publication Oil World apparently is now projecting smaller Argentine soybean plantings than last year. Dec meal futures were up $13.50 on the day. The strong pace of exports and crush has commercials scrambling for beans, particularly with harvest lagging. USDA estimates that the national harvest is about 13 points behind the 5yr average. IL is only 37% complete vs 66% average, while IN is 31% complete vs. 62% average. ND and SD are actually the farthest ahead of normal, with ND 12 points ahead, and SD 11 points ahead of their respective 5yr averages.
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