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Soybeans Nov '17 (ZSX17)

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Brugler report

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Wed Jul 26, 7:24AM CDT
Soybean futures are currently 1 to 2 cents in the red after finishing Tuesday trade with 12 to 17 1/2 cent losses. Front month soy meal was down $7.60/ton, with Aug 17 soy oil 11 points lower. According to the USDA Crop Progress report, most of the ECB and states north of the Corn Belt are lagging their averages for blooming progress, with some states in those regions behind their average for setting pods. Soybean conditions saw an 8 point drop on the Brugler500 index, as LA, ND, and WI were the only states reported higher, up 4 points over last week. TN and MS were down 13 points, with IL 12 points lower and NE down 9. Dr. Cordonnier also lowered his 2017 US soybean yield expectations 1 bpa to 46.5 bpa.
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