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Soybean futures are up 8 to 14 cents in most contracts, with all 2017 crop futures months above $10 as this is written. Meal is up more than $7/ton to support the bean product value, while some minor profit taking is being seen in BO. South America continues to leak very small quantities of old crop beans into the world market. Monthly shipments don’t go to zero in the US, and the same is true for South America. Chinese sources indicate that 99,341 MT of rapeseed oil was sold from government stocks at auction, which was the entire quantity offered. Prices were higher than the previous auction, which fits with tightening global veg oil stocks forecasts.
Nov 16 Soybeans are at $10.04 1/2, up 13 3/4 cents,
Jan 17 Soybeans are at $10.15 1/2, up 13 1/4 cents,