Soybeans (P) Futures PricesThu, Mar 5th, 2015
Latest Brugler Soybeans (P) Report
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Soybean futures closed 8-10 cents lower in the face of the flow of the record Brazilian harvest. Net export sales, at 501,200, were slight above the high end of the pre-report estimates of 300,000-500,000 MT. All but 1,700 MT were for delivery of old-crop. The US has already shipped 85% of the current full year forecast from USDA, and total commitments including unshipped sales are 98% of the forecast. The trade average guess for soybean ending stocks next Tuesday is 377 million bushels, slipping about 8 million bushels from the February USDA figure of 385 million on assumptions of another hike in projected exports.
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