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Soybean futures are showing double digit gains to start the month.The delivery squeeze situation continues to unwind for the September beans and bean meal. Sudden Death Syndrome (SDS) images are in the twitter-verse, stirring speculation about potential yield loss in those fields where it shows up. A number of private estimates are expected to come out between now and Friday, with the USDA report on September 11. Weekly export inspections reported by the USDA this morning were 37,381 MT, significantly lower than last week, and off 7.4% from the weekly total a year ago.Year to date export inspections are 21.5% more than they were a year ago.There will be 3 days of old crop business reported next Monday, as the marketing year ended 8/31 and this Inspections report was through August 28. There were no September meal or soybean deliveries over the weekend, with no deliverable receipts. The oldest meal long is from 6/10/13!
Sep 14 Soybeans are at $11.04 1/4, up 14 3/4 cents,
Nov 14 Soybeans are at $10.36 1/4, up 12 cents,
Jan 15 Soybeans are at $10.43 3/4, up 11 1/4 cents,