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Soybean Meal Pit Dec '17 (SMZ17)

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Brugler report

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Tue Oct 17, 4:44PM CDT
Soybean futures closed the Tuesday session with losses of 4 1/2 to 6 1/4 cents. December meal was down $2.90/ton, with nearby bean oil UNCH. Much of the WCB is lagging their average harvest progress, as IA, NE and MN have harvested nearly half of the crop they typically do for this week. Ratings improved 1 point to 366 on the Brugler500 index. This was the last week that the USDA will report condition ratings, as the final rating showed 61% of the crop in gd/ex condition.The national soybean cash price as of last night was $9.13 1/2. That fell from $9.22 3/4 the previous day, which was the highest national average cash price since the end of July. The national basis fell to -80 1/2 on October 3, and had come back 3 cents to -77 1/2 as of Monday afternoon. Nov 17 Soybeans closed at $9.84 3/4, down 6 1/4 cents, Jan 18 Soybeans closed at $9.95 1/4, down 6 1/4 cents, Mar 18 Soybeans closed at $10.05, down 5 3/4 cents, Jul 18 Soybeans closed at $10.22, down 5 1/2 cents, Dec 17 Soybean Meal closed at $321.60, down $2.90, Dec 17 Soybean Oil closed at $33.59, unch,
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